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Sterlite Tech surges on bagging contract to build, manage Indian Navy's next-gen Digital Network

16 Oct 2018

Sterlite Technologies is currently trading at Rs. 326.45, up by 8.25 points or 2.59% from its previous closing of Rs. 318.20 on the BSE.

The scrip opened at Rs. 322.90 and has touched a high and low of Rs. 331.65 and Rs. 317.90 respectively. So far 102315 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. 253.50 on 18-Oct-2017.

Last one week high and low of the scrip stood at Rs. 331.65 and Rs. 283.00 respectively. The current market cap of the company is Rs. 12992.61 crore.

The promoters holding in the company stood at 53.86%, while Institutions and Non-Institutions held 19.55% and 26.59% respectively.

Sterlite Technologies has been awarded the confirmed Purchase Order for designing, building and managing the Indian Navy’s digital network. This Rs 3,500-crore project is a multi-year contract, which will include design, execution, operations and maintenance of the Navy Digital Network. The company had in February 2018 announced the award of the Advanced Purchase Order (APO) for this project.

This network will give the Indian Navy digital defence supremacy at par with the best naval forces in the world. The project includes the creation of an independent high-capacity end-to-end communications network, linking multiple Indian naval sites and India-administered islands. The project will include setting-up of highly secure data centres and Big Data content delivery networks that are software-defined.

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.

Related Sterlite Technologies Ltd. Links:

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