Sterlite Tech Shares Climbs for 3rd Day on Rs 2,631-Crore BSNL Deal; Stock Hits 6-Month High

Sterlite Technologies shares surged as much as 15% to hit a six-month high of ₹88.68 on the National Stock Exchange on June 12, extending its winning streak to a third straight session. The rally came after the company announced that its global services business, in consortium with Dilip Buildcon Limited, has signed an agreement with Bharat Sanchar Nigam Limited (BSNL). The ₹2,631-crore contract is for implementing the BharatNet middle-mile network in the Jammu & Kashmir and Ladakh telecom circles.

Sterlite Technologies’ global services business has been demerged into STL Networks, with effect from the close of business hours on March 31. “Accordingly, the Agreement will be notated in favour of STL Networks Limited upon completion of the necessary formalities,” the company said in an exchange filing.

The said collaboration will help improve the digital connectivity in remote locations. It includes a three-year construction phase, followed by a 10-year maintenance contract, according to the exchange filing.  This development aligns with the central government’s recent push for adoption of BSNL and MTNL services, reinforcing public sector telecom players and addressing data security concerns.

The central government recently urged state governments to switch to BSNL and MTNL services, citing a 2019 cabinet mandate that made it compulsory for central government ministries and departments to rely on BSNL and MTNL for telecom services due to data security concerns.

Sterlite Technologies is a global optical and digital solutions company, which provides advanced offerings to build 5G, Rural, FTTx, enterprise and data centre networks. For the March quarter, the company’s consolidated net loss halved on year to ₹40 crore, while its revenue surged 25% on year during the period.

At its intraday high, the stock was nearly 51% above its 52-week low level and nearly 43% below its 52-week high level. Shares of the company have lost nearly 33% in the last one year and nearly 23% in 2025 so far. However, the stock has gained more than 44% in the last one month.