Sterlite Technologies stocks gain 50 percent in five trading days since introduction of AI powered data centre service proposals

 

Sterlite Technologies stocks gain 50 percent in five trading days since introduction of AI powered data centre service proposals

Sterlite Technologies Ltd shares continued its defiance of the gravity to rise the second straight session at higher levels despite the muted trading mood in the market on Tuesday, June 17.

At 11.45 am, the stock of the company was trading at an upper of 114.1 per share, up by 14.8 percent in the NSE, against its intraday high of 119.2. The stocks of the firm have increased 50 per cent in the previous five sessions.

Sterlite Technologies is also betting big on growing artificial intelligence (AI)-based data centre market, including its plan to go overseas. On June 16, the optical and digital solutions company reported it introduced a new generation of the end-to-end of data centre solutions portfolio - advanced cabling to full-stack connectivity solutions.

According to a press release by the firm, the new-age solution is designed to address the needs of the hyperscalers, colocation players, enterprises, and telecom service providers to build an agile, scalable, and sustainable Data Centre infrastructure as per its specifications.

The release added, "By introducing this, STL can fill this gap to the core by bringing its 30+ years leadership in the Optical network connectivity."

Currently, this segment contributes 20 percent to the revenue but on the enterprise side. This is something that STL is looking to change more and more to the data centre segment, said Agarwal.

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