The consortium has secured a ₹2,631.14-crore contract from BSNL for the BharatNet middle-mile network in Jammu & Kashmir and Ladakh.
Identified as Package 13, the project involves the design, supply, construction, installation, upgradation, operation, and maintenance of the network.
The construction phase is expected to span three years, followed by a 10-year maintenance period. Maintenance payments will be made at 5.5% of the capex annually for the first five years, and 6.5% per annum thereafter.
Following a Scheme of Arrangement approved by the National Company Law Tribunal (NCLT), STL’s Global Services Business has been demerged into STL Networks Ltd, effective March 31, 2025.
Accordingly, the agreement will be novated in favour of STL Networks Ltd upon completion of the necessary formalities.
From valuation perspective, Elixir Equities Director Dipan Mehta said that Sterlite Technologies is quite attractive, about ₹3,000 crore type of market capitalisation, and such a huge order certainly will drive the growth and maybe take the company to new growth phase as well.
Sterlite Technologies shares are currently trading 11.50% higher at 85.92. Despite today’s gain, the stock is down 25% on a year-to-date basis.
