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Sterlite Technologies gains on divesting stake in MTCIL

01 Apr 2022 Evaluate

Sterlite Technologies is currently trading at Rs. 228.90, up by 4.30 points or 1.91% from its previous closing of Rs. 224.60 on the BSE.

The scrip opened at Rs. 224.00 and has touched a high and low of Rs. 231.00 and Rs. 224.00 respectively. So far 62112 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 318.00 on 22-Jul-2021 and a 52 week low of Rs. 170.00 on 24-Feb-2022.

Last one week high and low of the scrip stood at Rs. 236.05 and Rs. 220.00 respectively. The current market cap of the company is Rs. 9098.69 crore.

The promoters holding in the company stood at 54.20%, while Institutions and Non-Institutions held 14.09% and 31.71% respectively.

Sterlite Technologies (STL) has signed the definitive agreement to sell its 64.98% stake of in Maharashtra Transmission Communication Infrastructure (MTCIL). The closing as per the agreement is completed on March 31, 2022. Total Consideration of Rs 43 crore agreed to be received in multiple tranches.

Sterlite Technologies is an industry-leading integrator of digital networks.

Peers
Company Name CMP
Polycab India 8400.00
KEI Industries 4679.50
RR Kabel Ltd. 2527.00
Finolex Cables 1460.40
Precision Wire India 502.25
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