Shares of Sterlite Technologies Ltd skyrocketed 15% on Thursday, 12 June, after the company announced signing an agreement with Bharat Sanchar Nigam Limited (BSNL) for a total consideration of Rs 2,631.14 crore.  

Sterlite Technologies, which is a demerged entity of Global Services Business, in collaboration with Dilip Buildcon, received a Rs 2,631.14 crore order from BSNL under the BharatNet program, according to an exchange filing on Wednesday. 
 
The agreement, signed on 11 June 2025, includes the design, supply, construction, upgrade, and maintenance of the middle-mile communication network for the Jammu and Kashmir and Ladakh circles under Package 13.

The contract is worth Rs 2,631.14 crore (including GST), which includes Rs 1,620.50 crore for capital expenditure (capex), Rs 972.30 crore for operating expenses (opex), and Rs 38.33 crore for existing infrastructure.

The construction phase will last three years, followed by a ten-year maintenance term.  According to the announcement, maintenance payments will be payable at 5.5% of capex per year for the first five years and 6.5% annually for the next five.

Furthermore, following a Scheme of Arrangement granted by the National Company Law Tribunal (NCLT), STL’s Global Services Business was demerged as STL Networks Ltd on 31 March 2025. 
 
In April, the business announced the effective completion of the demerger of its Global Service Business. Following the demerger, the services business will be transferred from Sterlite Technologies (STL) to STL Networks under the brand name “Invenia.” The move is consistent with the company’s aim of creating two specialised, future-ready businesses primed for rapid growth, it stated earlier. 

The company develops and deploys high-capacity convergent fibre cables and wireless networks. Furthermore, it collaborates with global telecommunications companies, cloud providers, citizen networks, and large organisations to design, create, and operate cloud-native software-defined networks. It is currently involved in the business of connection and network solutions.

At 1:47 pm, the shares of Sterlite Tech were trading 12.42% higher at Rs 86.53 on NSE.

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