The shares of one of the leading global optical and digital solutions gained 4.6 percent after the company launched the world’s slimmest fiber and cable technology.
With a market capitalization of Rs 5,546 crore, Sterlite Technologies is a mid-cap company. On Monday, The company Shares were trading at 139.85 a share, up 3 percent from the previous close price.
As per the exchange filing, Sterlite Technology Limited (STL) announced that the company has developed the world’s slimmest fibre for telecommunications- 160-micron Optical Fibre.
When compared to conventional 250-micron fibre, STL’s 160-micron fibre can carry three times as much capacity. The cost of installing fibre is primarily incurred in the laying of ducts, so duct space is extremely valuable.
STL’s 160-micron fiber will transform network deployment, bandwidth capacity, and green factor by cramming more capacity into a smaller duct space with a cable diameter of 6.4 mm (about 32% less than that of 250-micron fibre).
The company’s revenue increased by 27 percent from Rs. 5,437 crores in FY 2022 to Rs. 6,925 crores in FY 2023. Further, operating profit has increased by 34 percent from Rs. 665 crores in FY 2022 to Rs. 890 crores in FY 23.
According to the most recent shareholding data available for the September 2023 quarter. The company’s promoters own a 54 percent stake, domestic institutional investors own 1.91 percent, and foreign institutional investors hold 5.45 percent stake,
STL is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise, and Data Centre networks.
Written by Abhishek Singh
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