Sterlite Technologies hits 52-week high, rises 21% in four sessions

Sterlite Technologies hit the upper circuit of 5% at its 52-week high of Rs 865.90, rising for the fourth straight session.

The stock has gained 21.40% in four sessions. The stock has advanced 35.53% in the past month, 41.26% in three months and 639.45% in one year.

The rally follows the company's 3 September 2026 approval of a major capacity expansion at its existing manufacturing facility. The company plans to increase installed manufacturing capacity by approximately 50% by the end of FY29.

Sterlite Technologies plans to invest around Rs 3,000 crore in the expansion. The investment will be funded through internal accruals and/or debt. Existing capacity utilisation stands at around 70%. The company has not disclosed its installed capacity, citing commercial sensitivity.

The expansion is aimed at meeting rising global demand for optical fibre cables and connectivity solutions. The company said it will also strengthen its manufacturing capabilities.

Sterlite Technologies recently secured a long-term contract worth approximately $288 million from a leading hyperscaler. Under the three-year agreement, it will supply high-density optical fibre cable products from CY2027 to CY2029. The contract can be extended by two years with mutual consent.

Sterlite Technologies provides end-to-end connectivity solutions for AI-ready infrastructure, FTTx, rural, enterprise and data centre networks. Its customers include data centre and cloud companies, telecom operators, internet service providers and large enterprises.

At its 3 September investor meeting, the company unveiled its Lakshya growth roadmap. It targets revenue of Rs 20,000 crore by FY29, compared with Rs 4,745 crore in FY26. It also aims for an EBITDA margin of over 27%, against 13.2% in FY26. The company has an open order book of over $2 billion.

Sterlite Technologies said Q1 FY27 was its strongest quarter ever. Consolidated net profit surged 1,870% YoY to Rs 197 crore from Rs 10 crore, while revenue from operations rose 87.4% YoY to Rs 1,910 crore from Rs 1,019 crore.

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