Sterlite Tech's $1.2B Deal Sets Up a Strong Week

Sterlite Technologies (

) stands out as this week's clearest candidate for continued strength, after landing a massive, multi-year supply agreement that sent the stock to a fresh 52-week high. The deal itself is substantial and verified. On October 1, STL's wholly owned subsidiary signed a Long-Term Supply Agreement (LTSA) with a hyperscale partner worth an estimated $1.2 billion (roughly ₹11,500 crore), covering optical connectivity products for AI data centers from CY26 through CY3, a five-year revenue visibility window that's rare for a company this size. The market reaction was immediate and strong. Shares jumped as much as 5% to hit a fresh 52-week and all-time high of ₹955.35, up from Wednesday's close of ₹909.90, with the stock trading around ₹947-955 through the session. The stock's longer-term trend is extraordinary. STL is up roughly 826% year-to-date and has delivered about 415% returns in just the past six months, backed by a 870% YoY jump in Q1 profit to ₹197 crore, driven significantly by AI data center-related orders. A ₹3,000 crore capex plan supports the growth story. Approved on September 3, 2026, this expansion aims to boost manufacturing capacity by 50% by the end of FY29, directly addressing the kind of high-density optical fiber demand this new contract represents. A technical level to watch: analysts have flagged that the stock could see further upside as long as it holds above the ₹900-910 zone, which now effectively acts as a support level after this week's breakout.