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Sterlite Technologies Ltd News

Arbitrator rejects Sterlite Technologies' Rs 145 crore claim against BSNL

An arbitrator has rejected broadband technology company Sterlite Technologies' claims worth Rs 145 crore against BSNL in an optical fibre cable laying project, a regulatory filing said on Friday. Sterlite Technologies (STL) said that it is evaluating options to challenge the award of the arbitrator. "BSNL had deducted payments to the tune of Rs 145.02 crore for trenching done at a depth lesser than 165 cms duly approved by BSNL, due to legitimate site constraints. STL filed its claims towards wrongful imposition of depth penalty by BSNL. The arbitrator has rejected STL's claims vide award dated April 18, 2024," STL said in the filing. The Arbitration was before Justice Badar Durrez Ahmed , former Chief Justice Jammu and Kashmir High Court.

Arbitrator rejects Sterlite Technologies' Rs 145 crore claim against BSNL
Updated On : 19 Apr 2024 | 11:13 PM IST

Sterlite Tech tumbles 7% on profit booking; Co raises Rs 1,000 cr via QIP

On Tuesday, April 16, the stock price of Sterlite Technologies had jumped 9 per cent intraday trade

Sterlite Tech tumbles 7% on profit booking; Co raises Rs 1,000 cr via QIP
Updated On : 18 Apr 2024 | 11:07 AM IST

Nokia, Sterlite Tech to develop digital solutions for govt, enterprises

Finnish telecom and IT company Nokia on Monday said it has partnered with Sterlite Technologies (STL), an optical and digital solutions company, to enhance networking and digital solutions for government institutions and enterprises. The partnership will also focus on government-driven connectivity projects to offer connectivity and networking solutions, Noika said in a statement. "The collaboration will accelerate the Industry 4.0 revolution. By leveraging these solutions, businesses can gain a competitive edge and drive transformation with disruptive technologies," the statement said. Both companies will strengthen enterprise networks, providing high-speed, high availability, low-latency connections for applications such as 5G, IoT ( Internet of Things), data centre interconnect, supply chain efficiency, real-time data analytics, and generative AI use cases, according to the statement. "STL's extensive experience in connectivity solutions, coupled with Nokia's technological stren

Nokia, Sterlite Tech to develop digital solutions for govt, enterprises
Updated On : 04 Mar 2024 | 1:07 PM IST

Sterlite Tech soars 9% on entering into strategic partnership with Lumos

Sterlite Technologies said that it has been strategically engaged in co-creating fiber and optical connectivity solutions suited for Lumos

Sterlite Tech soars 9% on entering into strategic partnership with Lumos
Updated On : 21 Feb 2024 | 1:23 PM IST

Sterlite Tech Q3 results: Loss at Rs 57 crore amid optical demand headwinds

Optical and digital solutions company Sterlite Technologies (STL) on Thursday reported a loss of Rs 57 crore on a consolidated basis in December quarter 2023-24, hit by ongoing optical demand headwinds, especially in the US and parts of Europe. The company had posted a net profit of Rs 51 crore in the year-ago period. Revenue from operations was Rs 1,322 crore in Q3FY24, the company said in a regulatory filing. Revenue stood at Rs 1,883 crore in the year-ago period. EBITDA declined sequentially to Rs 109 crore from Rs 216 crore. "The company reported a sequential decline in revenue and EBITDA in Q3 FY24 amidst ongoing optical demand headwinds, especially in the US and parts of Europe," STL said in a release. Ankit Agarwal, Managing Director of STL said the downturn is temporary. While this downturn is temporary, the cost base and capabilities that we have built around product design, quality, manufacturing presence, and sustainability will reap benefits far into the future," Agar

Sterlite Tech Q3 results: Loss at Rs 57 crore amid optical demand headwinds
Updated On : 25 Jan 2024 | 8:02 PM IST