Sterlite Tech shares soar 35% in 2 days on data centre expansion amid AI demand
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Shares of Sterlite Technologies jumped nearly 35% over two trading sessions, driven by the company's move to expand its data centre offerings to cater to growing AI-related infrastructure demand. The stock rose 13.5% today to Rs 112.8 on the BSE, after gaining 19.3% in the previous session.In an exchange filing on Monday, the company said it has launched a new generation of data centre solutions—ranging from cabling to end-to-end connectivity—designed to meet the specific needs of hyperscalers , colocation providers, enterprises, and telecom operators.Sterlite expects the global data centre market to reach $517 billion by 2030, growing at a CAGR of 10.5%.The new solutions include high-performance fibre and copper cabling systems tailored for smart buildings, campuses, and data centres. The company said its copper systems enable secure, reliable data and AV connectivity, while its riser and campus fibre cabling support high-speed, low-latency networking.To strengthen distribution in India, Sterlite has partnered with Tech Data – India, a subsidiary of TD SYNNEX. Tech Data specialises in emerging technologies such as cloud, cybersecurity, AI, IoT, and analytics.Last week, Sterlite Tech , in a joint venture with Dilip Buildcon , secured a Rs 2,631 crore order from BSNL under the BharatNet project. The contract involves building and operating middle-mile connectivity infrastructure across Jammu & Kashmir and Ladakh.According to Trendlyne, the average target price for Sterlite Tech is Rs 93, suggesting a downside of 17% from current levels. Among the two analysts tracking the stock, the consensus rating is 'Buy'.Meanwhile, the stock has rallied 91% over the past three months but remains down nearly 3% over the past two years. Its current market capitalisation stands at Rs 5,430 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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