Sterlite Tech hits the roof

Sterlite Technologies has done exceptionally well today, with the stock opening over Rs.2 higher and then going on breach the 5% upper circuit at Rs.68.65.

The stock hit the roof on unconfirmed news coming in this  Anil Agarwal owned Vedanta group company is planning to showcase a new variant of the Google fibre – FTTH broadband technology blueprint, which would help the company deliver fast internet speeds and connectivity to urban homes across India. It is stated to be currently in the process of showing this blueprint to Bharti Airtel and Tata Tele. It hopes to roll out this product by 2016 and if this does click, it could very well turn out to be a goldmine for the company.