STL wins $100 million deals in Middle East and Africa, reaches highest-ever order book

STL [NSE: STLTECH], an industry-leading integrator of digital networks, today announced major new deals and extensions to current engagement with leading telcos in the Middle East and Africa region (MEA). The deals worth more than $100 million take STL's order book to a record high of ~Rs 11,300 Crores and exhibit the company's unwavering focus on building futureready digital networks in the region.

Since mid-2020, Tier 1 MEA telcos are investing heavily in building digital networks. STL has been expanding its presence in the region with their fully 5G ready Opticonn and Software Solutions. STL's unique end-to-end solutions enables customers to build 5G hyperscale networks at a fast pace with lower long-term Total Cost of Ownership (TCO). These multi-year, multi-million dollar deals range from optical connectivity solutions to network solutions.

One large scale deal is with a leading Telco in the UAE to advance its 5G, 4G and FTTx network infrastructure through STL's Opticonn Solutions, including onshore logistics and warehousing. Another multi-million dollar digital transformation partnership has been formed with the leading telecommunications group in North Africa. This Telco will deploy STL's digital billing solutions to 7 million subscribers across the region. With these deals across the Middle East and Africa, STL has built an Order Book of over $100 million in the region.

Speaking on the deals, Sandeep Girotra, Global Sales Head, STL, said: "STL is building solutions to empower its customers in the MEA region for optical connectivity and network software, enabling FTTH and 5G deployments. We are proud to be a part of the progress of the Middle East and Africa. With our deep technology expertise and growing talent base, we will continue to deliver on the full potential of digital networks, providing enhanced experiences to consumers and businesses alike."

Shares of STERLITE TECHNOLOGIES LTD. was last trading in BSE at Rs.208.25 as compared to the previous close of Rs. 214.2. The total number of shares traded during the day was 67967 in over 1039 trades.

The stock hit an intraday high of Rs. 214.4 and intraday low of 206.5. The net turnover during the day was Rs. 14225400.

Source : Equity Bulls

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