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.

 Disclaimer: For educational reasons, this content was created. Finocrunch is not responsible for the views and recommendations mentioned here. It is important for investors to seek support from experienced professionals before taking decisions.

Oswal Pumps IPO gets off to sluggish begin; subscription stands at 6%, GMP declines to 11%

Oswal Pumps IPO gets off to sluggish begin; subscription stands at 6%, GMP declines to 11%

Oswal Pumps IPO subscription status Day 1: The initial shares offering (IPO) of Oswal Pumps opened subscription today, June 13, 2025. The mainline IPO has got off to a slow begin with the issue getting subscribed just 6 per cent till 11 AM on Day 1, as per data available on National Stock Exchange (NSE).

The tranche allocated to retail investors and non-institutional investors (NIIs) was subscribed about 9 per cent each. The qualified institutional buyers (QIBs) had, however, no bids so far.

On Thursday, ahead of the IPO, Oswal Pumps mopped up 416.20 crore through anchor investors. To the exchanges, the company sent a notice that it had distributed 6.77 million equity shares at 614 per share to anchor investors. Part of the marquee institutions that invested in the anchor round are Societe Generale, BNP Paribas, ICICI Prudential, Aditya Birla Sun Life, Kotak Mahindra Mutual Fund, Quant Mutual Fund, Motilal Oswal MF, Bandhan Small Cap Fund, Nuvama MF, Sundaram MF, Amundi Funds, 360 One and Edelweiss Life Insurance among others.

Oswal Pumps IPO grey market premium (GMP)

As per the sources which monitor unofficial market operations, unlisted stocks of Oswal Pumps were being traded at 685 a share with a grey market premium (GMP) of 71 or 11.5 per cent above the upper band price of 614. Though, in the grey market, it was selling at a premium of 83 or 13.5 per cent on Thursday.

Oswal Pumps IPO review

Analysts have advised people to subscribe to the issue at long term level. The analysts at SBI Securities said the company has an order book of 1,100, or 80 per cent of its annualised revenue in the first nine months of fiscal 202425 (FY25). Moreover, a additional bid pipeline of 3,200 crore keeps decent visibility of growth. Nevertheless, its dependence on government projects and policies along with the cash flow delays may become its possible overhand.

Disclaimer: For educational reasons, this content was created. Finocrunch is not responsible for the views and recommendations mentioned here. It is important for investors to seek support from experienced professionals before taking decisions.