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Last Updated : Sep 16, 2020 09:55 AM IST | Source: Moneycontrol.com

Sterlite Tech, Airtel shares rise on partnership to build modern optical fibre network

The new optical network will enable Airtel to deliver world-class customer experience through enhanced scalability, reduced latency, and improved bandwidth, claimed the companies.

 
 
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Bharti Airtel share price gained a percent in the morning session on September 16 while Sterlite Technologies stock jumped over 4 percent after the telecom major entered into a partnership with the later to build a modern optical fibre network across 10 telecom circles.

The new optical network will enable Airtel to deliver world-class customer experience through enhanced scalability, reduced latency, and improved bandwidth claimed the companies.

Moody's Investors Service on September 11 revised Bharti Airtel's credit outlook rating to stable from negative.

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The research firm revised the rating on account of easing of competition in the telecom sector, increase in 4G customer base and mobile services rates from December. It also considered options given to the company to make payment of pending adjusted gross revenue in instalments while revising the outlook.

Share price of Bharti Airtel was trading at Rs 486.70, up Rs 1.00, or 0.21 percent. It has touched an intraday high of Rs 490.50 and an intraday low of Rs 485.55.

Sterlite Technologies was quoting at Rs 164.10, up Rs 6.80, or 4.32 percent. It has touched an intraday high of Rs 165.55 and an intraday low of Rs 163.60.

Sterlite Tech has been a long-term partner of Airtel in the optical connectivity space

"We are pleased to deepen our collaboration with Sterlite Tech to build a competent, future ready network. Airtel has always been committed to delivering customer delight and building a connected ecosystem. This 5G-ready and high capacity network will enable us to provide faster delivery of new services, while delivering an enhanced user experience," said Randeep Sekhon, CTO at Bharti Airtel.
First Published on Sep 16, 2020 09:55 am
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