Sterlite Technologies is currently trading at Rs. 341.30, up by 5.85 points or 1.74% from its previous closing of Rs. 335.45 on the BSE.
The scrip opened at Rs. 339.00 and has touched a high and low of Rs. 346.65 and Rs. 338.90 respectively. So far 111748 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 414.50 on 24-Jan-2018 and a 52 week low of Rs. 212.55 on 25-Sep-2017.
Last one week high and low of the scrip stood at Rs. 355.80 and Rs. 324.00 respectively. The current market cap of the company is Rs. 13762.89 crore.
The promoters holding in the company stood at 53.96%, while Institutions and Non-Institutions held 18.59% and 27.45% respectively.
Sterlite Technologies will be making an addition of 15 million fibre km to its optical fibre cabling capacity, doubling it to 33 million fibre km. This expansion will place the company among the top integrated optical fibre and cabling technology providers globally.
The company’s Board of Directors has approved Rs 320 crore capital expenditure for this expansion, which will be financed through a mix of internal accruals and debt. The enhanced capacity is expected to come on-line by June 2020 in a phased manner. This expansion was approved by the Board of Directors of the Company at its meeting held on September 14, 2018.
Sterlite Technologies is a global technology leader that designs, builds and manages smarter digital networks. Sterlite Tech engages with customers in more than 100 countries, with a digital web-scale offering across products, services and software.
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