$STLTECH

Sterlite Technologies jumped more than 4 percent on June 2, hitting a fresh 52-week high after nearly 1.45 million shares changed hands in a block deal. The stock gained as much as 4.7 percent to Rs 591.35 on the BSE, marking its highest level in the past year. In morning trade, Sterlite Technologies shares were quoted at Rs 588.70 on the NSE, up 4.6 percent from the previous close. The rally was further fueled by strong investor interest in companies linked to artificial intelligence (AI) infrastructure. Market sentiment has remained positive since Sterlite Technologies secured a $1 billion contract from a global hyperscaler, reinforcing its position among the world's leading optical fibre manufacturers. The contract is expected to benefit from growing investments in AI infrastructure and data centre connectivity, key growth areas for the company. Adding to the bullish outlook, Sterlite Technologies recently announced plans to invest up to $100 million in the United States to expand its manufacturing capacity for AI data centres and telecom customers, underscoring its commitment to capitalizing on the rising demand for next-generation digital infrastructure.