Sterlite Tech Stock Jumps to Upper Circuit After Landmark $1 Billion US Contract, CLSA Raises Target by 60%
मुख्य बातें
- •Sterlite Tech shares hit the upper circuit after securing a $1 billion contract from a US customer.
- •CLSA raised the stock’s target price by 60%, citing strong order inflows and growth potential.
- •Over the past 12 months, Sterlite Tech’s shares have surged over 550%, and over 300% year-to-date.
- •The contract is expected to drive long-term revenue growth and strengthen Sterlite Tech’s global market position.
Shares of Sterlite Technologies Ltd (STL) surged to the upper circuit on Tuesday, following a landmark $1 billion contract from a major US customer. The announcement sent the company’s stock soaring, with the shares hitting the upper price band limit during intraday trade. The surge comes amid a broader rally in the telecom and optical fiber sector, driven by increased demand for digital infrastructure in North America.
Global brokerage firm CLSA has raised its target price for Sterlite Tech by 60%, citing strong order inflows and robust growth prospects. The revised target now stands significantly higher, reflecting renewed investor confidence. Over the past year, Sterlite Tech’s shares have delivered a staggering 550% return, while the year-to-date performance stands at over 300%, making it one of the top-performing stocks on the Indian bourses.
