Sterlite Technologies rises over 10%

Sterlite Technologies announced today morning that it has received a Rs 3500-crore Advance Purchase Order to design, build and manage the Indian Navy’s communications network. This will give the Indian Navy digital defence supremacy at par with the best naval forces globally.

This is the first time that an integrated naval communications network at such a scale is being built in India. The Navy’s communications network has been envisioned as a smarter network infrastructure with enhanced throughput, high-quality secure services and ease of network management. The scope requires Sterlite Tech to design, build and manage the communications network for over a decade through its system integration capabilities.

The company’s experience of creating an intrusion-proof communication network for the Indian Army in Jammu & Kashmir will be leveraged for the Navy’s communications network.

The stock is happy and the price rose over 10% to Rs.378.75. Its 52-week high is at Rs.414.50.