Sterlite Technologies moves up on looking at small capability buys

13 May 2020
Sterlite Technologies is currently trading at Rs. 98.60, up by 1.90 points or 1.96% from its previous closing of Rs. 96.70 on the BSE.

The scrip opened at Rs. 99.50 and has touched a high and low of Rs. 99.95 and Rs. 96.90 respectively. So far 94684 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 197.80 on 12-Jun-2019 and a 52 week low of Rs. 59.80 on 13-Mar-2020.

Last one week high and low of the scrip stood at Rs. 99.95 and Rs. 87.60 respectively. The current market cap of the company is Rs. 3975.00 crore.

The promoters holding in the company stood at 53.65%, while Institutions and Non-Institutions held 11.06% and 35.30% respectively.

Sterlite Technologies is looking at small capability buys or 'bolt-on acquisition' which come with attractive valuations. But the company, which in September last year announced the acquisition of IDS Group, a data centre network infrastructure design and deployment firm based in the UK, asserted that it will examine such opportunities cautiously and judiciously.

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