India's Sterlite Tech rises on stake sale in UK firm

Sterlite Technologies

06/10/2022 06:08

** Shares of networking technology provider Sterlite
Technologies Ltd  STTE.NS  rise as much as 10% to 182.50 rupees,
highest since Sept. 16
    ** Stock posts its sharpest intraday gain since Sept. 14
    ** Co said on Tuesday it has completed the sale of its stake
in Impact Data Solutions Limited, UK, to Hexatronic Group AB
    ** More than 1.9 million shares change hands by 0457 GMT,
1.3x 30-day avg of 1.5 million shares
    ** Both the analysts covering the stock have a "buy" or
"strong buy" rating; median PT is 208.5 rupees - Refinitiv data
    ** Stock down 42.4% YTD up to last close
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))