Sterlite Tech bags Rs 254 cr order from PGCIL
Optical fibre manufacturer Sterlite Technologies on Friday said it has bagged a Rs 254 crore order from state-run Power Grid Corporation of India (PGCIL) for supplying power conductor.
By PTI |
MUMBAI: Optical fibre manufacturer Sterlite Technologies on Friday said it has bagged a Rs 254 crore order from state-run Power Grid Corporation of India (PGCIL) for supplying power conductor.
As per PGCIL's requirement, about 60 per cent of the contract value would be executed within the current fiscal, Sterlite Tech said in a filing to the Bombay Stock Exchange.
The company currently has a manufacturing capacity of 1.15 lakh mt and plans to increase the production level to 1,60,000 mt at its power conductor facility. The company order book now stands at Rs 1,400 crore.
"Over the past several business quaters we have achieved success in key high-demand markets in several geographies... All our capacity expansion programmes are well in our progress and are scheduled to complete within the current fiscal," Sterlite Technologies Director Pravin Agarwal said.
Shares of Sterlite Technologies closed at Rs 117.80, down 15.22 per cent on the BSE.
As per PGCIL's requirement, about 60 per cent of the contract value would be executed within the current fiscal, Sterlite Tech said in a filing to the Bombay Stock Exchange.
The company currently has a manufacturing capacity of 1.15 lakh mt and plans to increase the production level to 1,60,000 mt at its power conductor facility. The company order book now stands at Rs 1,400 crore.
"Over the past several business quaters we have achieved success in key high-demand markets in several geographies... All our capacity expansion programmes are well in our progress and are scheduled to complete within the current fiscal," Sterlite Technologies Director Pravin Agarwal said.
Shares of Sterlite Technologies closed at Rs 117.80, down 15.22 per cent on the BSE.
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