Sterlite Technologies collaborates with Windstream; stock gains ~2%

12 Jul 2023 , 01:53 PM

Sterlite Technologies is trading 2% higher after the company announced its collaboration with Windstream. 

Sterlite will support Windstream’s large-scale fibre expansion projects under the terms of the agreement. STL began providing Optical Networking Solutions to Windstream in February 2021, kicking off the collaboration.

Sterlite Technologies is a provider of end-to-end solutions for global digital networks. It is a global leader in optical and digital solutions, offering cutting-edge solutions for 5G, rural, FTTx, enterprise, and data centre networks.

In Q4FY23, Sterlite logged a consolidated net profit of Rs 65 crore, against a loss of Rs 22 crore in Q4 FY22. In Q4 FY23, net sales increased by 25.1 percent year-on-year to Rs 1,872 crore.

At around 1.44 PM, Sterlite Technologies was trading 1.52% higher at Rs 150.40, against the previous close of Rs 148.15 on NSE. The counter touched an intraday high of Rs 153.95.

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