Sterlite Technologies gains on winning Rs 2600 crore BharatNet project in Jammu & Kashmir

Sterlite Technologies is currently trading at Rs. 120.80, up by 1.85 points or 1.56% from its previous closing of Rs. 118.95 on the BSE.

The scrip opened at Rs. 118.35 and has touched a high and low of Rs. 122.00 and Rs. 116.35 respectively. So far 311475 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 162.95 on 17-Nov-2023 and a 52 week low of Rs. 109.80 on 04-Jun-2024.

Last one week high and low of the scrip stood at Rs. 130.75 and Rs. 116.35 respectively. The current market cap of the company is Rs. 5895.23 crore.

The promoters holding in the company stood at 44.17%, while Institutions and Non-Institutions held 19.04% and 36.78% respectively.

Sterlite Technologies (STL) has won the strategically significant Jammu & Kashmir leg of the BharatNet III project in consortium with Dilip Buildcon. This project, valued at Rs 2600 crore (Rs 1,625 crore in capex and Rs 975 crore for operations & maintenance), strongly aligns with STL’s fervour for nation-building and its purpose of Transforming Billions of lives by Connecting the World.

By integrating cutting-edge technologies like drone surveys, GIS mapping, and AI-led network design, STL has demonstrated around 26% faster fibre deployment than conventional methods, with nearly 4x fewer fibre cuts. Specially tailored for mega-scale BharatNet rollouts, STL’s fibre automation solution will ensure a faster, more efficient rollout with exceptional quality, ultimately bringing reliable broadband connectivity to underserved areas of Jammu and Kashmir.

STL’s track record in Jammu & Kashmir is well established. The company previously executed the Network for Spectrum (NFS) project, building the world’s largest intrusion-proof network spanning over 10,000 kilometers for the Indian Armed Forces. With this new BharatNet project, STL is now focused on expanding broadband connectivity to villages, paving the way for enhanced opportunities in education, healthcare, and economic development for the citizens of the state.

The company has also been a strong partner in earlier BharatNet phases, successfully executing projects such as Mahanet in Maharashtra and T-Fibre in Telangana. With over 1,50,000 kilometres of fibre laid across India, it has established itself as a trusted leader in large-scale network deployments.

Sterlite Technologies is one of the industry's leading integrators of digital networks providing All-in 5G solutions.