This small-cap data center stock engaged in designing, manufacturing, and deploying optical networking solutions, fiber rollout, network modernization, digital transformation services, and cloud-native software-defined networks globally, jumped 3 percent after Bandhan Mutual Fund bought a stake of 1.23 percent and Goldman Sachs exited in the company
Stock Price Movement:
With a market capitalization of Rs. 3,963.10 crores, the share of Sterlite Technologies Limited has reached an intraday high of Rs. 82.42 per equity share, rising nearly around 2.65 percent from its previous day’s close price of Rs. 80.29. Since then, the stock has retreated and is currently trading at Rs. 81.23 per equity share.
What Happened:
On March 5, 2025, Bandhan Mutual Fund bought a 1.23 percent stake in the company through a bulk deal, purchasing 6,011,527 shares at an average price of Rs. 81 per share. This investment was worth Rs. 48.69 crore.
At the same time, Goldman Sachs India Equity Portfolio sold its entire 2.13 percent stake, offloading 10,377,562 shares at Rs. 81.04 per share, totaling Rs. 84.09 crore. This indicates a shift in ownership, with Goldman Sachs exiting while Bandhan Mutual Fund increased its stake.
Order book:
The company has a strong open order book of Rs. 9,050 crores, well spread across different customer segments and business areas. Currently, capacity utilization is around 50 percent, but it is expected to improve as market demand rises. A major milestone was achieved with the Rs. 2,600 crore BharatNet Phase 3 project in Jammu and Kashmir, further strengthening its growth outlook.
Demerger Business:
The company is making steady progress on the demerger of its global services business. The final hearing for the process is scheduled for January 30, 2025. This marks a key milestone in the restructuring plan, which aims to enhance focus and create better value for stakeholders.
Recent quarter results:
Sterlite Technologies Limited’s revenue has decreased from Rs. 1,322 crore in Q3 FY24 to Rs. 1,261 crore in Q3 FY25, which has dropped by 4.61 percent. The net loss has reduced from Rs. 59 crore in Q3 FY24 to Rs. 24 crore in Q3 FY25.
Written By – Nikhil Naik
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