Shares of Sterlite Technologies up 13% today: What's fueling rally?

Shares of Sterlite Technologies up 13% today: What's fueling rally?

Shares of Sterlite Technologies jumped by nearly 13% today after the company announced an expansion of its data center portfolio. It is now trading at ₹93.80 per share.

The move is aimed at meeting the growing demand from AI-driven infrastructure.

The stock was one of the top gainers in the broader markets, indicating strong investor confidence in Sterlite's new strategy and offerings.

Global data center market and Sterlite's solutions

In an exchange filing, Sterlite Technologies announced the launch of a new generation of data center solutions.

These range from cabling to end-to-end connectivity and are tailored for hyperscalers, enterprises, colocation players, and telecom service providers.

The company expects the global data center market to hit $517 billion by 2030 at a compound annual growth rate (CAGR) of 10.5%.

Solutions for smart buildings, campuses, and data centers

New solutions of Sterlite Technologies include high-performance fiber and copper cabling systems for smart buildings, campuses, as well as data centers.

The company claims its copper systems provide secure and reliable data as well as AV connectivity.

Its riser and campus fiber cabling enable high-speed low-latency networking.

This technological advancement is a key part of the company's strategy to meet the needs of modern infrastructure.

BSNL contract worth ₹2,631 crore secured

Last week, Sterlite Technologies, along with Dilip Buildcon, won a ₹2,631 crore order from BSNL under the BharatNet project.

The contract is for building and maintaining the middle-mile connectivity infrastructure across Jammu & Kashmir and Ladakh.

Despite a 20% decline over two years, the stock has jumped 56% in the last three months.

The current market cap of Sterlite Technologies stands at ₹4,532 crore.