India's Sterlite Tech rises on sale of telecom products-software business

Sterlite Technologies

03/04/2023 07:11

** Shares of Sterlite Technologies  STTE.NS  up as much as
5.02% to 154.95 rupees; sharpest intraday pct gain since Jan. 30
    ** Stock on track for third consecutive session of gains if
trend holds
    ** Data network services provider said it has completed the
transaction for sale of its telecom products and software
business to Skyvera LLC through its Indian unit
    ** STTE is trading below its 50-, 100-, and 200-day simple
moving averages, indicating bearish sentiment 
    ** About 553,148 shares change hands as of 11:28 a.m. IST,
vs 1.0x 30-day average of 562,271 shares 
    ** Stock down 16.05% YTD as of last close, extending 38.9%
losses in 2022
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))