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Hold Sterlite Technologies: target of Rs 295: ICICI Direct

ICICI Direct recommended hold rating on Sterlite Technologies with a target price of Rs 295 in its research report dated July 23, 2021.

July 27, 2021 / 04:14 PM IST
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ICICI Direct's research report on Sterlite Technologies

Sterlite Technologies (STL) is a leading telecommunication infrastructure player with offerings in optical fibre and cables, hyper-scale network design & deployment and network software. STL has announced a fresh capex of Rs 200 crore to set up 9 mn Fkm optical fibre cable plant in the US and UK. Consequently, its overall optical fibre cable capacity is expected to expand from 33 mn Fkm to 42 mn Fkm  On the financial front, it aims to reach Rs 10000 crore revenue run rate by Q4FY23 along with net debt/equity < 0.5 and RoCE > 20%


We maintain HOLD on the stock as we await improvement in leverage and sustainability of growth   We value STL at Rs 295 (Rs 280, earlier), at 18x FY23 P/E.


For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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first published: Jul 27, 2021 04:14 pm

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