Sterlite Technologies jumps on expanding partnership with Windstream to support fiber expansion projects
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Sterlite Technologies is currently trading at Rs. 151.05, up by 2.95 points or 1.99% from its previous closing of Rs. 148.10 on the BSE.
The scrip opened at Rs. 152.95 and has touched a high and low of Rs. 153.95 and Rs. 150.45 respectively. So far 69177 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 192.95 on 19-Dec-2022 and a 52 week low of Rs. 128.60 on 26-Jul-2022.
Last one week high and low of the scrip stood at Rs. 153.95 and Rs. 147.55 respectively. The current market cap of the company is Rs. 6021.95 crore.
The promoters holding in the company stood at 54.05%, while Institutions and Non-Institutions held 10.08% and 35.87% respectively.
Sterlite Technologies (STL) has entered into a partnership with Windstream, a privately held communications and software company, to support their large-scale fiber expansion projects. Windstream Wholesale, an optical technology leader of fast and flexible advanced solutions, has multiple fiber construction projects underway including an extension of its existing Tulsa, OK route from Little Rock, AR, to Memphis, TN; a new fiber build from Raleigh, NC, to Jacksonville, FL; and another project from New York City to Montreal. Additionally, Windstream, through its Kinetic business, is bringing the best internet experience to more and more homes, businesses, and carrier partners across America.
The collaboration started in February 2021, when the STL began providing Optical Networking Solutions to Windstream. Building upon this foundation, STL has expanded its offering set to provide advanced optical designs like high-fiber count Intelligently Bonded Ribbon and Flat ribbon, in addition to its loose tube optical cables. These products are designed to ensure faster rollout, superior network longevity, and high scalability, aligning perfectly with Windstream Wholesale's requirements for metro, and long-haul optical networks, which currently provide up to 400G wave services to its customers and will support 800G transmission in the future.
Sterlite Technologies is one of the industry's leading integrators of digital networks providing All-in 5G solutions.
