Telecom stock in focus after partnering with Swoop Holdings to boost broadband networks in Australia

This Anil Agrawal stock engaged in designing, manufacturing, and deploying optical networking solutions, fiber rollout, network modernization, digital transformation services, and cloud-native software-defined networks globally, is in focus after partnering with Swoop Holdings to upgrade fibre connectivity in Australia.

Stock Price Movement:

With a market capitalization of Rs. 3,963.10 crores, the share of Sterlite Technologies Limited has reached an intraday high of Rs. 77.45 per equity share, rising nearly 1.57 percent from its previous day’s close price of Rs. 76.25. Since then, the stock has retreated and is currently trading at Rs. 74.97 per equity share. 

What Happened

Sterlite Technologies Limited (STL) has partnered with Swoop Holdings Limited to upgrade fibre connectivity for around 1,000 homes in Western Australia. The collaboration will provide high-speed Fibre-to-the-Home (FTTH) services, supporting Swoop’s plan to expand its broadband network. 

STL will supply advanced optical solutions, including versatile fibre cables and pre-configured closures, designed for efficient installation. This partnership aims to improve digital infrastructure and offer fast, reliable internet to regional communities, marking a significant step in Swoop’s network development.

Also read: IT stock jumps after launching new semiconductor subsidiary to boost its presence in global chip industry

Order book

The company has a large order backlog of Rs. 9,050 crores, spread across various customers and sectors. Currently, its capacity is being used at 50 percent, but this is expected to increase as demand grows. A key achievement was securing the Rs. 2,600 crore BharatNet Phase 3 project in Jammu and Kashmir, which boosts its future growth prospects.

Demerger Business

The company is moving forward with the demerger of its global services business, with the final hearing set for January 30, 2025. This is an important step in the restructuring plan, designed to improve focus and deliver greater value for stakeholders.

Recent quarter results

Sterlite Technologies Limited’s revenue fell by 4.61 percent, from Rs. 1,322 crore in Q3 FY24 to Rs. 1,261 crore in Q3 FY25. However, the net loss decreased significantly, from Rs. 59 crore in Q3 FY24 to Rs. 24 crore in Q3 FY25.

Written By – Nikhil Naik

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