The shares of Sterlite Technologies were at a surge of nearly 6 percent after the company took an order from Bharti Airtel to build an optical fiber network across 10 telecom circles. The stock was trading higher by 4.77 percent at 164.75 per share on the National Stock Exchange. The share price of Bharti Airtel was trading at Rs. 486.70 up to Rs. 1, it touched an intraday high of Rs. 490.50 and an intraday low of Rs. 485.55. Similarly, for the STL, the intraday high was of Rs.165.55 and an intraday low of Rs.163.60 on September 16, 2020.
The product of this deal will be a dense fiber network that will also serve as a base of future generation technology such as 5G, FTTH, IoT, enterprise networks, and Industry 4.0. This new network will also help Airtel to provide enhanced scalability, reduced latency, and improved bandwidth to its customers.
The STL official said that it was major order for them and STL will provide end to end products and services for Bharti Airtel.
The company will be executing the entire integration for Bharti Airtel for new fiber-related CAPEX. The order will serve the revenue purpose for this as well as next year said the STL official. The official also said with the addition of wireless and end to end services with optical fiber, our portfolio will be new enhanced for the market. Apart from this, the global order book is robust; the product side of the business is seeing more engagement for multi-year deals.
Sterlite Technologies (STL) has been a long-term partner to Airtel in the optical connectivity space. Commenting on the partnership, Bharti Airtel CTO Randeep Sekhon said “This 5G-ready and high capacity network will enable us to provide faster delivery of new services while delivering an enhanced user experience”.