India's Sterlite Tech drops as US unit faces $96.5 mln penalty

Sterlite Technologies

01/09/2025 07:38

** Sterlite Technologies STTE.NS falls as much as 7.6% to 106 rupees, lowest since mid July

** U.S. court orders co's subsidiary STI to pay $96.5 mln in damages to Prysmian Cables under litigation accusing STI, Sterlite's employee of disclosing confidential information for STI's competitive advantage

** Unit denies allegations

** Sterlite says financial implications will be assessed after final resolution

** Adds STI will "vigorously pursue" all available post-trial remedies, including appeal

** STTE last down 5.7%, trimming YTD gains to ~35%

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))