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STL Networks and Sterlite Tech jump nearly 5% on new contract wins
STL Networks said it secured a Rs. 249 crore Railtel order spanning design through deployment of cloud infrastructure for a data center and disaster recovery site.
Shares of STL Networks and Sterlite Technologies rallied nearly 5% to hit the upper circuit on Wednesday, September 30, as investors leaned into optimism around recent order wins in the telecom sector, according to LiveMint Markets.
STL Networks rose after it was named the lowest bidder for a contract from Railtel Corporation of India worth Rs. 249 crore, with the company set to handle design, supply, installation, testing, commissioning, configuration, integration, migration, and deployment of a cloud infrastructure solution for Railtel’s data centre and disaster recovery site.
The outlet also pointed to ongoing momentum for Sterlite Technologies, citing investors’ expectations tied to hyperscaler orders, record earnings, and aggressive targets ahead, while noting Sterlite’s share performance has strengthened further.
For STL Networks, LiveMint Markets highlighted that the stock’s fresh move came a day after the company announced the Railtel lowest bidder outcome, and said STL has delivered close to a 415% return over the past six months.