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12-10-2023 03:23 PM | Source: Accord Fintech
Sterlite Technologies zooms on collaborating with Hygenco

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Sterlite Technologies is currently trading at Rs. 161.60, up by 4.15 points or 2.64% from its previous closing of Rs. 157.45 on the BSE.

The scrip opened at Rs. 157.50 and has touched a high and low of Rs. 163.15 and Rs. 157.50 respectively. So far 146418 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. 142.00 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 163.15 and Rs. 153.10 respectively. The current market cap of the company is Rs. 6443.96 crore.

The promoters holding in the company stood at 54.05%, while Institutions and Non-Institutions held 9.16% and 36.80% respectively.

Sterlite Technologies (STL) has collaborated with Hygenco, a homegrown green hydrogen solutions provider, for the supply of Green Hydrogen to its manufacturing plants. In this long-term offtake agreement, Hygenco will build-own-operate the Green Hydrogen facility for STL for 20 years. This facility will be based on renewable energy and commissioned in the next 15-18 months. This project will be the very first Green Hydrogen project in India's Optical industry and boost STL’s Net-Zero by 2030 ambition.

Currently, STL uses electrolysers running on conventional energy. Now, renewable energy-based electrolysers installed by Hygenco will enable STL to in-source its Hydrogen requirement, thereby reducing occupational health hazards associated with procuring Hydrogen in cylinders. Equipped with autonomous energy management and control, this system will also enable constant monitoring and real-time decision-making to ensure optimal efficiency.

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