&w=3840&q=100)
Sterlite Tech shares rally most in 3 years on ₹2,631 crore BSNL contract
The telecom equipment and accessories maker's stock rose as much as 15.2 per cent during the day to ₹88.6 per share, the biggest intraday gain since April 22, 2022. The stock pared gains to trade 13.6 per cent higher at ₹87.5 apiece, compared to a 0.09 per cent decline in Nifty 50 as of 9:50 AM.
Shares of the company extended gains to their third day and are up nearly 50 per cent from their April lows. The counter has fallen 24 per cent this year, compared to a 6.2 per cent advance in the benchmark Nifty 50. Sterlite Technologies has a total market capitalisation of ₹4,286.02 crore, according to BSE data.
Sterlite Tech's ₹2,631.14 crore order from BSNL
Sterlite Technologies, through its demerged Global Services Business, in consortium with Dilip Buildcon, secured a contract from Bharat Sanchar Nigam Ltd (BSNL) under the BharatNet programme, according to an exchange filing on Wednesday.
The agreement, signed on June 11, 2025, involves the design, supply, construction, upgradation, and maintenance of the middle-mile telecom network for the Jammu & Kashmir and Ladakh circles under Package 13.
The total value of the contract is ₹2,631.14 crore (inclusive of GST), comprising capital expenditure (capex) of ₹1,620.50 crore and operating expenditure (opex) of ₹972.30 crore for the new network and ₹38.33 crore for the existing infrastructure.
The construction phase will span three years, followed by a 10-year maintenance period. Maintenance payments will be made at 5.5 per cent per annum of capex for the first five years and 6.5 per cent annually for the remaining five, according to the statement.
Sterlite Tech demerger of Global Service Biz
Further, following a Scheme of Arrangement approved by the National Company Law Tribunal (NCLT), STL's Global Services Business has been demerged into STL Networks Ltd, effective March 31, 2025.
In April, the company said that it successfully completed the demerger of its Global Service Business. Post the demerger, the services business will transition from Sterlite Technologies (STL) to STL Networks under the brand name "Invenia.' The move aligns with the company's vision to create two specialised, future-ready organisations poised for accelerated growth, it said earlier.
About Sterlite Technologies
The company designs and deploys high-capacity converged fibre cables and wireless networks. Besides, it partners with global telecom companies, cloud companies, citizen networks, and large enterprises to design, build and manage such cloud-native software-defined networks. Presently, it is engaged in the business of connectivity and network solutions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
3 hours ago
- India.com
BIG challenge for Mukesh Ambani Jio, Mittal's Airtel as BSNL rolls out Fiber Ruby plan; offers 1Gbps speed, 9500 GB data, free OTTs at just Rs...
(File) BSNL Fiber Plans: In a major challenge for private telecom majors, including Mukesh Ambani-led Reliance Jio and Sunil Mittal-owned Bharti Airtel, BSNL has rolled out a pocket-friendly plan for fiber broadband user on the occasion of India's 79th Independence Day, offering 9500 GB monthly data at a blazing 1 Gbps speeds, along with free subscription to popular OTT platforms like JioHotstar, SonyLIV, Hungama, and Lionsgate Play. What is BSNL's Fiber Ruby OTT plan? BSNL's Fiber Ruby OTT plan, which can be availed by users for 1 month, 6 months, 12 months, and 24 months– is also offering a flat Rs 1,000 discount on new BSNL broadband connections. The plan can be availed till September 13, 2025, according to an official release shared by BSNL on its X handle. As per details, BSNL is offering 9500 GB high speed data at 1Gbps speeds after which speed will be capped at 45Mbps. Users will also get free subscriptions to 23 popular OTT apps, including JioHotstar, LionsGate, Shemaroo, Hungama, SonyLIV, EpicOn. Additionally, the plan offers unlimited calling to any network across India, while international calls will be charged at 1.20 per minute. The plan can be availed for Rs 4,799 for 1 month, Rs 28,794 for 6 months, Rs 57,588 for 12 months, and Rs 1,15,176 for 24 months with up to Rs 1000 discount for new connections. Additionally, BSNL is offering one month free on a 12-month subscription, and 3 months on the 24-month plan. How BSNL is posing major challenge to Jio, Airtel? Notably, BSNL has lately emerged as a strong competitor to private telecom majors, including Sunil Mittal's Bharti Airtel, and Mukesh Ambani-led Reliance Jio — India's largest private provider, and has launched a wide range of competitive BSNL broadband plans to compete with Jio Fiber and Airtel Xstream broadband services. The state-owned telecom provider has witnessed a resurgence of late, reaching several milestones such as adding over 65 lakh new subscribers to its expanding network in two months at the end last year, according to Department of Telecommunications (DoT). With its competitive pricing, BSNL is now posing a stiff challenge to industry leaders such as Mukesh Ambani-led Reliance Jio and Sunil Mittal's Airtel
Mint
12 hours ago
- Mint
Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 18 August 2025
Buy or sell stocks: The Indian stock market finally snapped a six-week losing streak as extreme oversold conditions and supportive global cues lifted investor sentiment. The Nifty 50 and Sensex ended the week with gains of around 1%, though momentum remained muted due to persistent foreign outflows. Foreign Institutional Investors (FIIs) continued their aggressive selling, offloading nearly ₹ 10,000 crore in the cash market, while Domestic Institutional Investors (DIIs) absorbed the pressure with strong buying worth ₹ 19,000 crore. Broader markets staged a recovery across sectors, led by pharma and auto stocks, though FMCG lagged. Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market sentiment has improved after successive rallies in two straight sessions. However, the Choice Broking expert said the Nifty is facing an immediate hurdle at 24,650. On breaking above this level on a closing basis, Bagadia predicted another 100-point rally in the 50-stock index. Speaking on the outlook of the Indian stock market, Sumeet Bagadia said, "The Indian stock market bias has improved after the relief rallies on the last two sessions last week; however, the 50-stock index trades in a tight 24,300 to 24,650 range. The broader range of the key benchmark index is 24,000 to 24,800. A bullish or bearish trend can be assumed on the breakage of either side of this range. If the rally extends further, we may see the Nifty 50 index touching 24,800 levels." Sumeet Bagadia of Choice Broking advised investors to maintain a stock-specific approach and look at stocks that look strong on the technical chart. Asked about such stocks, Bagadia recommended buying these three shares: Maruti Suzuki India Ltd, Bajaj Finserv, and Power Grid Corporation of India. 1] MSIL: Buy at ₹ 12,936, Target ₹ 14,300, Stop Loss ₹ 12,300. Maruti Suzuki India Ltd's share price is currently ₹ 12,936, consolidating within a defined range over recent sessions. The stock is now on the verge of breaking out of this range, with price action supported by consistent trading volumes, a sign of steady accumulation and strong market participation. If Maruti Suzuki India Ltd's share manages to sustain above the ₹ 13,000 mark, it could confirm the breakout and open the door for further upside toward higher targets. Such a move would indicate the continuation of its prevailing bullish trend. Momentum indicators back this view. The Relative Strength Index (RSI) is at 63.90, trending upwards, signalling strengthening momentum. Maruti Suzuki India Ltd's share price is comfortably trading above all its key moving averages, short-term, medium-term, and long-term EMAs, which suggests robust underlying strength and a supportive trend structure. From a price action standpoint, the consolidation near the highs and volume-backed breakout potential point toward bullish dominance and an attractive risk-reward opportunity. Given the emerging technical setup, traders may consider buying Maruti Suzuki India Ltd shares at the current market price of ₹ 12,936, with a stop-loss set at ₹ 12,300 to manage downside risk. A sustained move above ₹ 13,000 could propel the share price toward the ₹ 14,300 target in the near term. 2] Bajaj Finserv: Buy at ₹ 1925.10, Target ₹ 2130, Target ₹ 1830. Bajaj Finserv's share is currently trading at ₹ 1,925.10, having seen a strong upmove from lower levels in the past. After a record high, the stock witnessed a healthy retracement, allowing it to cool off from overbought conditions. Recently, it has been taking support from its long-term EMA, a key dynamic support level, and is now showing early signs of a potential reversal. A sustainable move above ₹ 1,980 could confirm this reversal and open the door for further upside in the near term. Such a move would suggest that the bulls are regaining control after the corrective phase. Momentum indicators support this outlook. The Relative Strength Index (RSI) stands at 39.84 and shows a reversal from lower levels with a positive crossover, indicating an emerging uptrend. Additionally, Bajaj Finserv's share is trading above its long-term EMA and is now approaching its short-term and medium-term EMAs, signalling improving technical strength. From a price action perspective, the rebound from the long-term EMA combined with early momentum recovery suggests that the downside risk is limited, making the current setup attractive from a risk-reward standpoint. Given the emerging reversal signals, traders may consider buying Bajaj Finserv shares at the current market price of ₹ 1,925.10, with a stop-loss set at ₹ 1,830 to manage downside risk. A sustained move above ₹ 1,980 could propel the stock toward the ₹ 2,130 target soon. 3] Power Grid Corporation of India: Buy at ₹ 288.70, Target ₹ 320, Stop Loss ₹ 275. Power Grid Corporation of India's share price is currently trading at ₹ 288.70. After bouncing from lower levels, the stock has entered a consolidation phase within a defined range. This consolidation has also taken the shape of an Ascending Triangle pattern on the daily timeframe. The stock is currently taking support near the lower boundary of this formation, hinting at a potential base for the next directional move. If the stock manages to sustain above the ₹ 300 level, it could confirm a breakout from this pattern and open the way for further upside toward the ₹ 325 target. Such a breakout would mark a shift in momentum from consolidation to bullish continuation. Momentum indicators support this view. The Relative Strength Index (RSI) stands at 45.75, showing an upward trend after reversing from lower levels and forming a positive crossover, signalling improving buying interest. Power Grid Corporation of India's share is also trading near its short-term EMA and is approaching its medium-term and long-term EMAs. A sustained move above these levels would further strengthen the bullish case. From a price action standpoint, the combination of firm support at the lower end of the formation and improving momentum suggests the potential for an upward breakout, offering an attractive risk-reward setup. Given these technical signals, traders may consider buying Power Grid Corporation of India shares at the current market price of ₹ 288.70, with a stop-loss set at ₹ 275 to manage downside risk. A sustained move above ₹ 300 could soon drive the stock toward the ₹ 325 target. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
12 hours ago
- Time of India
Nifty may swing -11% to +4% around 25,000; macro uncertainty clouds outlook: Report
Representative image Nifty 50 could fluctuate between 11 per cent below and 4 per cent above its year-end target of 25,000 as markets face a host of uncertainties, according to a report by BofA Securities. As per news agency ANI, the brokerage said that possible US trade tariffs on Indian goods, a shaky US economic outlook, delays in policy responses, and upcoming elections in six major Indian states could all weigh on investor sentiment. These six states together account for more than 16 per cent of India's public subsidy and capital expenditure. 'We keep our Nifty year-end target intact at 25,000 but expect Nifty to swing -11 per cent to +4 per cent versus this target as markets react to emerging developments around key factors such as trade tariffs, US economic outlook, Fed/RBI cuts, and potential fiscal support to offset tariff impact,' the report noted. BofA expects Nifty earnings to grow 7 per cent in FY26 and 11 per cent in FY27, well below market expectations of 9 per cent and 15 per cent respectively and warned that each earnings season could trigger short-term corrections rather than sustained rallies. The firm added that timely legislative and fiscal reforms, funded by higher RBI dividends, asset sales, fuel duties and leveraged infrastructure spending, could lift market sentiment and provide upside potential. Publicly available data show that both the Nifty 50 and BSE Sensex have been struggling, each in the midst of their longest losing streak in over two decades. They are down about 12.6 per cent and 11.7 per cent respectively from their record highs in September last year, with a roughly 3 per cent decline so far this year. On Thursday, however, both indices ended slightly higher in a volatile session. The Sensex rose 57.75 points (0.07 per cent) to 80,597.66, while the Nifty gained 11.95 points (0.05 per cent) to close at 24,631.30. Gains in IT, pharma, banking and consumer durables were offset by losses in metals, oil and gas, and FMCG. Vinod Nair, head of research at Geojit Financial Services, was quoted by news agency PTI as saying that softer US inflation data and a dovish outlook supported IT and pharma stocks, while hopes for a consumption-led recovery lifted banking and consumer durables. Adding to the broader macro picture, S&P Global Ratings has upgraded India's sovereign credit rating to 'BBB' with a stable outlook, the first such improvement in nearly 19 years, citing robust growth, fiscal discipline, and favourable monetary policy. S&P said the possible impact of US tariffs on India would be 'manageable,' pointing out that around 60 per cent of the country's economic growth comes from domestic consumption, making it less reliant on trade. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
