Now Reading: Sterlite Technologies shares hit upper circuit after stellar Q1 results
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Sterlite Technologies shares hit upper circuit after stellar Q1 results
Sterlite Technologies shares hit upper circuit after stellar Q1 results
Sterlite Technologies shares hit a 5% upper circuit at Rs 620.90 on Monday after the company reported its strongest quarter ever. The optical and digital technology firm's Q1 revenue rose 33% quarter-on-quarter…
The Story in Brief
Sterlite Technologies shares hit a 5% upper circuit at Rs 620.90 on Monday after the company reported its strongest quarter ever. The optical and digital technology firm's Q1 revenue rose 33% quarter-on-quarter to Rs 1,910 crore. EBITDA jumped 97% QoQ to Rs 385 crore, with margins expanding to 20%.
The company's order book surged 155% QoQ to Rs 18,600 crore, and Sterlite is now net debt-free. Global brokerage CLSA upgraded the stock to 'outperform' with a price target of Rs 950, citing strong AI infrastructure demand. Sterlite also raised Rs 1,500 crore through a QIP during the quarter.
The Indian Opinion
Sterlite's record numbers show the AI boom is real for India's optical fibre makers, not just cloud companies. The 155% jump in order book suggests this is not a one-quarter blip. But a beta of 1.39 means the stock can swing hard. Investors must watch whether rival Chinese firms or a US slowdown in data centre spending dent Sterlite's order pipeline in the next two quarters.
Source: businesstoday.in
This story was synthesised by AI from the source linked above.
