India's Sterlite Tech hits record high; Nirmal Bang sees 40% gain on strong demand
BUZZ-India's Sterlite Tech hits record high; Nirmal Bang sees 40% gain on strong demand ** Telecom products maker Sterlite Tech STTE.NS shares rise as much as 3.08% to record high of 984.8 rupees apiece
** Rise follows brokerage Nirmal Bang starting coverage of STTE with a "buy" rating and PT of 1,340 rupees, implying upside of 40% from last close
** Sees strong structural demand outlook for STTE, led by artificial intelligence and data-centre expansion, government-led broadbase programs and fifth-generation/sixth-generation (5G/6G) network rollouts
** With order book converting to sales, revenue is likely to rise 103% year-on-year to 96.26 billion rupees in the financial year 2027, estimates Nirmal Bang
** Adds earnings recovery should drive a sharp improvement in return ratios
** STTE shares have jumped nine-fold in 2026 so far, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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