Company Update - Sterlite Technologies - Annual Investors and Analyst Meet - ICICI Direct

Sterlite Technologies' (STL) management, during its annual investors and analyst meet, announced fresh capex of Rs. 200 crore for setting up a 9 mn Fkm optical fibre cable plant in the US and UK. STL also outlined its three growth levers as to 'Grow optical business', 'Globalise system integration and scale in India' and 'Build strong access solution business'. On the financial front, it aims to reach Rs. 10000 crore revenue run rate by Q4FY23 (vs. Rs. 10000 crore revenue target in FY23 earlier) along with net debt/equity < 0.5 and RoCE > 20%. The margin guidance was also brought down a bit to 17-18% vs. 18-20%, stated earlier.

For details, click on the link below: Link to the report

Shares of STERLITE TECHNOLOGIES LTD. was last trading in BSE at Rs.285.15 as compared to the previous close of Rs. 281.3. The total number of shares traded during the day was 83198 in over 2329 trades.

The stock hit an intraday high of Rs. 288.9 and intraday low of 281.7. The net turnover during the day was Rs. 23819162.

Source : Equity Bulls

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