Sterlite Tech stock jumps 9% on agreement to develop fiber-optic infra in US

Shares of Sterlite Technologies Limited soared 9 percent to Rs 146 on February 21 afternoon after the company announced a strategic partnership with Lumos, a US-based company,  to co-create fibre and
optical connectivity solutions in the mid-Atlantic region.

Sterlite will offer advanced, purpose-engineered optical fiber cable designs and will also supply its flagship Opto-bolt product, a pre-connectorised drop cable designed to significantly reduce installation time, a release said.

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"Our optical products bring forth a combination of advanced fiber optic technology and a faster go-to-market. We are confident that with Lumos’ support, we will be able to create value in this project," Paul Atkinson, CEO of optical networking at Sterlite, said.

Last week, the company announced a partnership with BAPS temple in Abu Dhabi for optical solutions. The company will be responsible for end-to-end premise connectivity in the temple, provided through structured cabling solutions including optical fibre cables, category cables, cabinets and racks to support 10G network connectivity.