Sterlite Tech shares hit 5% upper circuit on ₹10,000 crore multi-year supply order update; stock up 350% YTD

Shares of Sterlite Tech surged 5% to hit its upper circuit of ₹463.20, reaching a new 52-week high level on Monday's market with positive momentum from the mega order update.

“We hereby wish to inform you that a subsidiary of Sterlite Technologies Limited has received a Product Award Letter (PAL) from a hyperscale partner for multi-year supply of optical connectivity products,” the company informed the stock exchanges.

In the NSE filing, the company disclosed that the international order will be for an unnamed United States-based ‘hyperscale’ client, where Sterlite Tech will supply optical connectivity products as per the customer's needs.

The deal details further showed that the contract, which is valued at around $1.1 billion or ₹10,622 crore (at an Indian rupee exchange rate of 95.7), will be executed over a multi-year period by the year ended March 2029.

What’s behind this mega contract?

Although Sterlite has not disclosed the name of its client, the company will use the optical connectivity products in the expansion of its artificial intelligence (AI) data centre buildouts.

“Under this agreement, STL, through its optical solutions, will support building AI data centre infrastructure in the US for this hyperscaler,” said Ankit Agarwal, MD of Sterlite Tech, in the official statement. “We are enabling connectivity backbone for the AI data centres.”

The company also recently launched its Celesta IBR cable series, which features up to 6,912 fibres.

Last week on Friday, Sterlite shares closed 5% higher at ₹441.15 at the upper price band after trading hours, compared to ₹420.15 at the previous market close, according to the data collected from the NSE data.

Sterlite Technologies share price trend

Shares of Sterlite Technologies have delivered more than 93% returns on their investment in the last five years, more than 199% gains in the last three years, and over 543% returns in the past one-year period, according to the exchange data.

NSE data also showed that so far in 2026, Sterlite Tech shares have gained 350% year-to-date (YTD), and have risen 73% in the past one month. The telecom equipment maker’s stock was trading 9.79% higher over the last five market sessions on the Indian stock market.

Last week, Sterlite shares hit their 52-week high of ₹441.15 on Friday, May 22, ahead of the company’s order update, while the 52-week low was at ₹67.55 on May 21, 2025, as per the exchange data.

The company’s market capitalisation (m-cap) was at ₹22,610.30 crore as of Monday’s trading session.