Sterlite Technologies is currently trading at Rs. 68.45, up by 2.00 points or 3.01% from its previous closing of Rs. 66.45 on the BSE.
The scrip opened at Rs. 67.00 and has touched a high and low of Rs. 70.30 and Rs. 65.10 respectively. So far 620330 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 79.30 on 18-Nov-2014 and a 52 week low of Rs. 19.05 on 03-Mar-2014.
Last one week high and low of the scrip stood at Rs. 70.30 and Rs. 62.80 respectively. The current market cap of the company is Rs. 2710.53 crore.
The promoters holding in the company stood at 54.70%, while Institutions and Non-Institutions held 12.24% and 33.04% respectively.
Sterlite Technologies’ subsidiary - Sterlite Grid (SGL) has successfully refinanced East North Interconnection Company Limited (ENICL) project loan within three months of the project becoming fully operational in November 2014. The new financing arranged by Axis Bank, consists of a long term loan of Rs 925 crore, with significantly favorable terms as compared to the earlier debt.
This refinancing is in line with Sterlite’s stated objectives of recycling capital for increasing returns on investment. With this transaction, Sterlite has not only achieved reduction of 175 basis points in the interest cost on per annum basis, but also released more than Rs 150 crore after repaying its outstanding debt obligations to the existing financial institutions.
Sterlite Technologies develops & delivers products, solutions and infrastructure for telecom & power transmission networks, globally.
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