STL deepens partnership with Vocus stock surges over 10%

About the Partnership

Sterlite Technologies Limited (STL), a leading provider of optical and digital solutions, announced today an expansion of its partnership with Vocus Group, a specialist in fiber and network solutions in Australia. STL has been actively collaborating with Vocus to develop optical fiber solutions tailored to Vocus objective of delivering high-speed connectivity across Australia.

STL has been instrumental in supporting Vocus in building, operating, and maintaining its extensive fiber network with its optical networking solutions. Over the past three years, STL has supplied more than 1000 kms of optical fiber cable to Vocus and remains committed to providing sustainable, high-quality products. Notably, STL has pioneered the launch of a range of externally certified Eco-labeled Optical Products, affirming its dedication to sustainability. The newly extended multi-year partnership will witness a greater utilization of STL’s ultra-slim profile Micro TM cables in Vocus’ network, alongside the adoption of STL’s flagship Stellar TM fiber, recognized as the world’s first bend-resilient fiber with backward compatibility to fibers found in legacy networks. The incorporation of such bend-resilient fiber promises to enhance Vocus’ network quality, offering reduced losses, higher network availability, and an extended operational lifespan.

Stock Performance

In the latest trading session, STL share price closed at Rs 110.80. Opening at Rs 111.65 today, the stock is currently trading at Rs 120.70, reflecting an 8.94% increase. The company’s 52-week high stands at Rs 179, while its 52-week low is at Rs 110. Presently, STL boasts a market capitalization of approximately Rs 4,800 crore.

About STL

Sterlite Technologies Limited was established in July 2001 following the demerger of the telecom division of Sterlite Industries Ltd. Over the years, STL has emerged as the largest manufacturer of Optical Fiber and Optical Fiber Cables in the country. Additionally, the company has made significant strides in overseas markets, establishing a strong presence in the global optical fiber market. Currently, STL is a global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise, and Data Centre networks.

About Vocus

Vocus owns and operates a purpose-built and managed fiber network spanning more than 25,000 kms, tailored for businesses and government entities. Its high-performance and secure network infrastructure play a pivotal role in connecting people, businesses, government, and communities in Australia to the world.

Disclaimer:This blog is intended solely for educational purposes. The securities mentioned are for illustrative purposes only and not recommendations. The content is sourced from various secondary sources on the internet and is subject to change. Please consult with a financial expert before making any related decisions.