Sterlite Tech zooms 7% after rolling out 5G-from-India offering at IMC 2021

NEW DELHI: Shares of Sterlite Technologies soared 7 per cent in early trade as the digital networks integrator unveiled its 5G-from-India offering at the India Mobile Congress event.

The counter rose to a high of Rs 317.40 against the previous close of Rs 295.30 on the National Stock Exchange.
In a statement over the weekend, the company said its 5G portfolio includes optical, radio and deployment solutions.


"At STL, we are proud to deliver a '5G-from-India' solution. We are launching our comprehensive portfolio of products at the IMC 2021 and expect that the end-to-end nature of our solutions will fundamentally change the game for super-fast and high quality 5G deployments. We are a part of the largest digital inclusion drive and are confident that with our digital networking solutions, we will transform billions of lives not only in India but across the globe,” reports quoted Managing Director Ankit Agarwal as saying.

The company, one of the leaders in the digital network integration space, has a portfolio of over 630 patents and is constructing deployment techniques and a 5G framework that facilitates smooth wired and wireless connectivity, reports quoted Sterlite as saying.

According to reports, Sterlite Technologies has developed Opticonn, an optical connectivity solution that includes high fibre count (6912 fibre) Celesta Intelligently Bonded Ribbon [IBR] Cable with Stellar bend-insensitive fibre and optical interconnect products like IBR compatible Splice enclosures for fast and seamless installation and quality.

In July-September, Sterlite Technologies reported an over 81 per cent year-on-year jump in consolidated net profit at Rs 106 crore, with the results driven by a stellar performance in Europe and America.

The company’s revenue increased 30 per cent on-year to Rs 1,508 crore for the quarter under review.