Sterlite Tech shares up 6% on partnership with BAPS Abu Dhabi temple

Shares of Sterlite Technologies Limited traded 6 percent higher in the afternoon trade on February 15 after the company announced its partnership with BAPS temple in Abu Dhabi for optical solutions.

The company will be responsible for end-to-end premise connectivity in
the temple, provided through structured cabling solutions including optical
fibre cables, category cables, cabinets and racks to support 10G network connectivity.

Prime Minister Narendra Modi had inaugurated the temple  on February 14 during a two-day visit to the United Arab Emirates (UAE).

At 2.02 pm, the stock was trading at Rs 137, up 3.5 percent from the previous close on the NSE. In the last three months, the stock has declined almost 5 percent.

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The optical and digital solutions company said that solutions come equipped with features such as network traceability, operations and maintenance, and space optimisation.

“This brings high-speed connectivity not just to the temple but also to other in-premise facilities, including education centres, community cultural centres, and sprawling accommodation halls”, Sushil Deshpande, regional sales head of the company, said.

With a market cap of over Rs 5,000 crore, Sterlite Tech is a manufacturer of glass preforms, optical fibre, optical and speciality cables and optical interconnects. The company also provides services such as fibre rollout services, network services, and managed services.

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