Sterlite Technologies share price jumps 5% after Bharti Airtel optical fibre contract; Airtel up 1%

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Updated: Sep 16, 2020 10:26 AM

In March this year, Sterlite Technologies plunged to Rs 59.80 apiece, hitting a 52-week low on BSE. The stock has rallied 177 per cent in just over six months period.

Bharti Airtel, Sterlite TechnologiesThis 5G-ready and high capacity network will enable Airtel to provide faster delivery of new services while delivering an enhanced user experience

Sterlite Technologies share price jumped over 5 per cent to Rs 165.55 apiece in early trade on BSE after the company announced a partnership with telecom giant Airtel to build a modern optical fibre network for Airtel across 10 telecom circles. While Bharti Airtel shares too gained nearly one per cent to Rs 490.50 apiece in today’s trade. Sterlite Technologies in a press release informed that this modern optical network will enable Airtel to deliver world-class customer experience through enhanced scalability, reduced latency, and improved bandwidth. With today’s gain in the share price, Sterlite Technologies is just 8 per cent from its 52-week high of Rs 179.95, touched in September last year.

In March this year, Sterlite Technologies plunged to Rs 59.80 apiece, hitting a 52-week low on BSE. The stock has rallied 177 per cent in just over six months period. The densely fiberized, future-ready network, will also form the foundation for many next-gen services such as 5G, FTTH, IoT, enterprise networks, and Industry 4.0. Sterlite Technologies has been a long term partner to Airtel in the optical connectivity space and in this project. The company will closely work with Airtel to design and build a network that will shape the future of connected India, it said in a release.

Extending the 2 per cent gains from the previous session, Bharti Airtel shares were trading half a per cent up on BSE around 9.50 AM. “This 5G-ready and high capacity network will enable us to provide faster delivery of new services while delivering an enhanced user experience,” said Randeep Sekhon, CTO, Bharti Airtel. For this project, Sterlite Technologies will use its end-to-end deployment solution – LEAD 360 degree, which comes with features like robotics cable blowing and AI bots along with a pre-integrated suite of optical fibre, cable, network design, and integration services. “This will create multiple efficiencies, enable faster launch readiness, and enhanced network quality for Airtel,” it added. 

Sterlite Technologies said that the need for dense fiberisation shall continue to grow on the back of investments in 5G, FTTH, data centres, and next-gen digital networks. 

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