Sterlite Technologies gains on planning to raise funds

12 Apr 2019

Sterlite Technologies is currently trading at Rs. 203.70, up by 1.90 points or 0.94% from its previous closing of Rs. 201.80 on the BSE.

The scrip opened at Rs. 204.40 and has touched a high and low of Rs. 206.00 and Rs. 202.90 respectively. So far 85168 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 399.00 on 01-Nov-2018 and a 52 week low of Rs. 181.00 on 12-Feb-2019.

Last one week high and low of the scrip stood at Rs. 220.95 and Rs. 189.00 respectively. The current market cap of the company is Rs. 8223.93 crore.

The promoters holding in the company stood at 53.82%, while Institutions and Non-Institutions held 16.83% and 29.35% respectively.

Sterlite Technologies is planning to raise funds by issue of equity shares or any other securities convertible into equity shares or a combination of such securities by way of further public offer, rights issue, American Depository Receipts/Global Depository Receipts/Foreign Currency Convertible Bonds, qualified institutions placement, preferential issue or any other method as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required.

The meeting of Board of Directors of the company will be held on April 23, 2019, to consider the same.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719