Sterlite Technologies gains on commissioning India’s first Ultra Mega Transmission Project

14 Nov 2014 Evaluate

Sterlite Technologies is currently trading at Rs. 72.70, up by 2.45 points or 3.49% from its previous closing of Rs. 70.25 on the BSE.

The scrip opened at Rs. 71.60 and has touched a high and low of Rs. 73.30 and Rs. 71.60 respectively. So far 196529 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 76.25 on 14-Oct-2014 and a 52 week low of Rs. 19.05 on 03-Mar-2014.

Last one week high and low of the scrip stood at Rs. 74.00 and Rs. 68.00 respectively. The current market cap of the company is Rs. 2881.91 crore.

The promoters holding in the company stood at 54.69 % while Institutions and Non-Institutions held 11.25 % and 34.04 % respectively.

Sterlite Technologies’ subsidiary -- Sterlite Grid -- has successfully commissioned India’s first Ultra Mega Transmission Project (UMTP). The first line in this project connecting Purnea and Bihar Sharif was commissioned in September 2013, which was the first 400 KV line to cross the river Ganges since Independence. The second line which is about 225km long connects Bongaigaon in Assam to Siliguri in West Bengal. The 400 KV double-circuit quad transmission line was commissioned today making the East-North Interconnection Company (ENICL) fully operational.

ENICL project transmission lines were identified as one of the highest priority lines by Power System Operation Corporation (POSOCO) as they provide critical connectivity for transfer of power from the power plants in the North Eastern (NE) region. Also, this project will address the critical issue of power shortfall during non-monsoon months bringing significant relief to the residents of Assam.

Transmission lines in this project pass through some of the most difficult terrains in Bihar, West Bengal and Assam. The construction of these lines were completed by overcoming several challenges including natural calamities like floods & earthquakes, crossing of large rivers such as Ganges, Teesta, Kosi etc., riots in Kokrajhar and right-of-way hurdles.

Sterlite Technologies develops and delivers products, solutions and infrastructure for telecom and power transmission networks, globally.

Sterlite Technologie Share Price

119.35 0.80 (0.67%)
01-Nov-2024 18:59 View Price Chart
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