Latest news with #Sterlite
Time of India
6 days ago
- Business
- Time of India
Sterlite Tech shares soar 35% in 2 days on data centre expansion amid AI demand
Shares of Sterlite Technologies jumped nearly 35% over two trading sessions, driven by the company's move to expand its data centre offerings to cater to growing AI-related infrastructure demand. The stock rose 13.5% today to Rs 112.8 on the BSE, after gaining 19.3% in the previous session. In an exchange filing on Monday, the company said it has launched a new generation of data centre solutions—ranging from cabling to end-to-end connectivity—designed to meet the specific needs of hyperscalers , colocation providers, enterprises, and telecom operators. Sterlite expects the global data centre market to reach $517 billion by 2030, growing at a CAGR of 10.5%. Also Read: Street favourites! Analysts see these 10 smallcap stocks rallying 20-80% The new solutions include high-performance fibre and copper cabling systems tailored for smart buildings, campuses, and data centres. The company said its copper systems enable secure, reliable data and AV connectivity, while its riser and campus fibre cabling support high-speed, low-latency networking. To strengthen distribution in India, Sterlite has partnered with Tech Data – India, a subsidiary of TD SYNNEX. Tech Data specialises in emerging technologies such as cloud, cybersecurity, AI, IoT, and analytics. Also Read: 6 IPOs set to open this week. Check latest GMP trends Last week, Sterlite Tech , in a joint venture with Dilip Buildcon , secured a Rs 2,631 crore order from BSNL under the BharatNet project. The contract involves building and operating middle-mile connectivity infrastructure across Jammu & Kashmir and Ladakh. According to Trendlyne, the average target price for Sterlite Tech is Rs 93, suggesting a downside of 17% from current levels. Among the two analysts tracking the stock, the consensus rating is 'Buy'. Meanwhile, the stock has rallied 91% over the past three months but remains down nearly 3% over the past two years. Its current market capitalisation stands at Rs 5,430 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
7 days ago
- Business
- Economic Times
Sterlite Tech shares jump 12% on data centre expansion to tap AI demand
Shares of Sterlite Technologies surged nearly 12% on Monday, June 16, after the company announced the expansion of its data centre portfolio to address growing demand from AI-driven infrastructure. The stock was among the top gainers in the broader markets. ADVERTISEMENT In an exchange filing, the company said it has launched a new generation of data centre solutions—ranging from cabling to end-to-end connectivity—designed to meet the specific needs of hyperscalers, colocation providers, enterprises, and telecom operators. Also Read: 10 midcap stocks with more than 20 buy Calls: Analysts see up to 25% upside Sterlite expects the global data centre market to reach $517 billion by 2030, growing at a CAGR of 10.5%. The new solutions include high-performance fibre and copper cabling systems tailored for smart buildings, campuses, and data centres. The company said its copper systems enable secure, reliable data and AV connectivity, while its riser and campus fibre cabling support high-speed, low-latency networking. To strengthen distribution in India, Sterlite has partnered with Tech Data – India, a subsidiary of TD SYNNEX. Tech Data specialises in emerging technologies such as cloud, cybersecurity, AI, IoT, and analytics. ADVERTISEMENT Last week, Sterlite Tech, in a joint venture with Dilip Buildcon, secured a Rs 2,631 crore order from BSNL under the BharatNet project. The contract involves building and operating middle-mile connectivity infrastructure across Jammu & Kashmir and Read: These 11 Nifty microcap stocks can rally 55-210% in the next 12 months According to Trendlyne, the average target price for Sterlite Tech is Rs 93, suggesting limited upside from current levels. Of the two analysts tracking the stock, most have a 'Buy' rating. ADVERTISEMENT The stock has rallied 56% over the past three months but remains down 20% over the past two years. Its current market capitalisation stands at Rs 4,532 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
24-05-2025
- Politics
- Time of India
Sterlite killings: NGO urges TN to conclude action against officials
Madurai: The Tamil Nadu govt has been urged to complete the pending disciplinary proceedings against the 17 revenue and police officers involved in opening fire on anti-Sterlite protesters in Tuticorin district, and place them under suspension so that none of them are allowed to retire without facing the consequences of their actions. In a statement, executive director of NGO, People's Watch, Henri Tiphagne also urged chief minister M K Stalin to seek the closure of the CBI probe ordered by the Madras high court and entrust the investigation to a highly competent team of police officials, preferably monitored by a highly reputed independent senior police officer from outside Tamil Nadu, comprising senior officers of the rank of DGP. This is because several IPS officers and IAS officers were found to be responsible for the injuries and the killings in Tuticorin. Tiphagne said that Justice Aruna Jagadeesan Commission, which probed the 2018 Sterlite killings, submitted a report to the govt in 2022. He stated that while the Tamil Nadu assembly adopted the report in May 2022 and consequential orders were passed by the state govt, it is shocking that despite three years passing, the disciplinary proceedings against the police and revenue authorities are still pending. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
New Indian Express
24-05-2025
- Politics
- New Indian Express
Activist Mugilan acquitted of sedition charges in 2017 case
KARUR: Environment activist R S Mugilan, who has staged several protests including against the Sterlite plant in Thoothukudi and the nuclear power plant at Kudankulam, was acquitted of sedition charges by the chief judicial magistrate court on Friday. The case relates to a speech Mugilan made in April 2017 at a public meeting in Seethapatti Colony in Aravakurichi. In December 2017, a case was booked and Mugilan was arrested under Sections 124(A), 153(A)(1), and 505(1)(b) of IPC. He was granted bail in September 2018. During the final hearing on Friday, the judge found no evidence against Mugilan and acquitted him of all charges. Speaking to reporters, Mugilan said, 'I was charged falsely for speaking about illegal sand mining in the Cauvery river, and the importance of caste and religious harmony. I am glad justice has been served.' Mugilan has faced several cases. In 2019, he was arrested based on a sexual assault complaint lodged by a 32-year-old woman in Karur. He was granted bail by the Madurai Bench of the Madras High Court in November 2019.
New Indian Express
23-05-2025
- Politics
- New Indian Express
Thoothukudi sterlite police firing: activists say no action on cops who fired even after seven years
THOOTHUKUDI: Anger against the state government came to the fore on Thursday as Thoothukudi remembered the 15 people who died in police firing on May 22, 2018, when they were marching in a procession towards the collectorate on the 100th day of a protest against the Sterlite copper smelter plant. Activists questioned the government's 'inaction' against the police who opened fire, and for not dismantling the plant. Activists led by Basil Kosta paid homage to the victims at Fatima Nagar. Speaking on the occasion, M Krishnamoorthy, coordinator of Thoothukudi Anti-Sterlite People Federation, said eight demands, including withdrawal of cases against protesters and delisting them from history sheet register, have not been addressed. 'The suspected killers identified by the Aruna Jegadeesan committee have not been punished yet. Even though action has been taken against accused in Sathankulam custodial torture case and Pollachi sexual abuse case, the accused in Sterlite firing have not been brought before the court. Also, the Sterlite plant had not been dismantled', he said. Retired professor Fatima Babu, who paid homage on behalf of Anti-Sterlite People's Movement at Trespuram, said the state is hesitant to dismantle the plant even after the Supreme Court vindicated the permanent closure. Hari Ragavan, an advocate, cited CM Stalin, saying 'The killer police have been let scot free and elevated to higher posts. The smelter has not been dismantled.' Activists said their other demands such as declaring May 22 as environment protection day, and construction of a memorial for the victims have not been fulfilled.
