Sterlite Tech hits 52-week high on $1.2 bn supply deal

Sterlite Technologies Limited (NSE: STLTECH) shares climbed as much as 4.99% to a fresh 52-week and intraday high of Rs 955.35 on October 1, 2026, after its subsidiary signed a long-term supply agreement worth about 1.2 billion dollars. The agreement is with an international hyperscale partner for the supply of optical connectivity products, with deliveries to continue through 2030. The deal builds on a string of hyperscaler orders the company has won through the year as AI data centre buildouts drive demand for high-density optical fibre and connectivity products. A move of this size on a single contract announcement reflects how much weight the market is placing on Sterlite's hyperscaler order pipeline this year, and the stock closing at a fresh high rather than fading into the close is a sign the move had genuine buying behind it, not just an opening pop. That said, after an 826% run this year, a lot of future order wins may already be priced in, so the size of any correction on a weak quarter or a slower order flow month could be sharp. On the chart, Rs 889, today's low, is the first support, while Rs 955 is now both the high and the level to hold for the uptrend to stay intact. The thing to track next is whether this 1.2 billion dollar agreement converts into firm purchase orders in the coming quarters, since long-term supply agreements of this kind are typically framework deals rather than guaranteed revenue. Disclosure: Palash Kag, Proprietor, Sarathi Research, SEBI Reg. No. INH000012740. No position held in Sterlite Technologies Limited as on date. Views are educational and informational only, not financial advice or a recommendation to buy, sell or hold any security.