Sterlite Technologies Ltd shares bucked the muted market sentiment on Tuesday, June 17, extending its gravity-defying rise to the second consecutive session.
At 11.45 am, shares of the firm were commanding Rs 114.1 per share, higher by 14.8 percent on the NSE, retreating from its intraday high of Rs 119.2. Over the past five sessions, shares of the the firm have jumped 50 percent.
Sterlite Technologies is doubling down on expanding artificial intelligence (AI)-driven data centre market, both in India and globally. On June 16, the optical and digital solutions firm announced the launch of a new generation of end-to-end of data centre solutions portfolio — from advanced cabling to full-stack connectivity offerings.
"This new-age solution is engineered to meet the exact requirements of hyperscalers, colocation players, enterprises and telecom service providers to build agile, scalable, and sustainable Data Centre infrastructure," said the firm in a press release.
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With the global data centre market projected to reach $517 billion by 2030 (growing at a CAGR: 10.5 percent from 2021- 2030), legacy infrastructure cabling systems are buckling under the demands for lower network latencies, rising network speeds and density requirements, as well as sustainability mandates.
"With this launch, STL bridges this gap by bringing to the core its 30+ years leadership in Optical network connectivity," added the release.
The firm is targeting a $1-billion opportunity globally and expects the enterprise and data centre segment to contribute 25 percent to its revenue in the current fiscal. “We have set a target that the enterprise plus data centre segment should be 25 percent of our revenue in the coming year, and then we will look to grow that by next year,” STL managing director Ankit Agarwal said in an interaction with Moneycontrol.
At present, 20 percent of the revenue comes from this segment but more on the enterprise side. STL wants to shift this more and more towards the data centre segment, Agarwal said.
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