Sterlite Technologies is currently trading at Rs. 67.50, up by 0.20 points or 0.30% from its previous closing of Rs. 67.30 on the BSE.
The scrip opened at Rs. 68.00 and has touched a high and low of Rs. 69.90 and Rs. 67.50 respectively. So far 136204 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 74.00 on 08-Sep-2014 and a 52 week low of Rs. 19.00 on 01-Oct-2013.
Last one week high and low of the scrip stood at Rs. 72.35 and Rs. 62.30 respectively. The current market cap of the company is Rs. 2651.43 crore.
The promoters holding in the company stood at 54.71% while Institutions and Non-Institutions held 9.64% and 35.66% respectively.
Sterlite Technologies, a leading global provider of transmission solutions for the power and telecom industries, has entered into a Joint-Venture (JV) agreement with VISCAS Corporation, a leading Japanese company specialized in providing power transmission and distribution systems solutions globally. As part of this JV agreement, VISCAS Japan will invest into the existing Power cable facility of Sterlite in Haridwar which is already serving the MV/HV Power Cables customers in India.
This venture is an important milestone in sustaining Sterlite’s leadership in power transmission & distribution sector with an objective of addressing the growing extra high voltage underground power cabling requirements in India. It also strengthens the unique positioning of Sterlite, in offering integrated Overhead, Underground transmission & distribution networks with smart grid enablers as OPGW/ communication products.
The closure of the transaction would be subject to necessary approvals. Axis Capital acted as sole financial advisor to Sterlite Technologies.
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