Sterlite Technologies Ltd, a subsidiary of the Vedanta Group specializing in optical and digital technology, has been selected as the lowest bidder (L1) for Bharat Sanchar Nigam Limited’s (BSNL) ₹1,625 crore project. The company will be responsible for developing the BharatNet project in Jammu and Kashmir, including a 3-year construction period and 10-year maintenance commitment.
Key Developments:
- BSNL Order Value: ₹1,625 crore
- Project Scope: 3-year construction and 10-year maintenance for BharatNet in Jammu and Kashmir
- Announcement Impact: The order win has led to a surge in Sterlite Technologies’ share price, which rose over 5% in early trading.
Financial Performance and Stock Analysis:
- Share Price: Trading at ₹128, reflecting a strong positive reaction to the BSNL order.
- 52-Week Range: High of ₹162.90 and Low of ₹109.50
- Market Cap: ₹6,160 crore
Recent Price Action:
As of today’s trading session (3:30 PM IST), Sterlite Technologies’ share price has shown significant gains:
- Opening Price: ₹124.00
- Intraday High: ₹130.75
- Intraday Low: ₹121.89
This order is expected to strengthen Sterlite Technologies’ position in the Indian telecom infrastructure market, with potential for further positive movement as the project progresses. Investors may consider the company’s expanded role in BharatNet and the 10-year maintenance scope as indicators of a longer-term growth outlook.
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