Sterlite Technologies shares cross Rs 1,000 mark, hit record high; here are fresh price targets
Sterlite Technologies: The brokerage is of the view that rapid data centre additions and constrained supply are driving an optical fibre cable demand supercycle.
- Oct 6, 2026,
- Updated Oct 6, 2026 10:41 AM IST
Shares of Sterlite Technologies Ltd rose for the fifth session today, surging 21% in two days. The rally in the stock comes amid global investment firm Nomura assigning a Buy call on the stock with a target price of Rs 1,350. The stock has been gaining for five days. Strong industry tailwinds are expected to drive robust growth, Nomura said adding that it expects revenue/EBITDA CAGR of 50%/89% over FY26–29.
The brokerage is of the view that rapid data centre additions and constrained supply are driving an optical fibre cable demand supercycle. The company is well-positioned to benefit from strong optical fibre cable demand due to its integrated capacity.
The stock is overbought on charts with a RSI of 75.3. An RSI above 70 indicates a stock has more buyers than sellers in a trading session.
Sterlite Technologies shares rose 5% to a fresh record of Rs 1046.90 against the previous close of Rs 999.60. Market cap of the firm rose to Rs 53,667 crore.
Sterlite Technologies share price has risen 454% during the last six months and gained 920% in 2026.
The stock trades above its 5 day, 10 day, 20-day, 30 day, 50-day, 100-day and 200-day moving averages, which signals a strong uptrend. The stock has a beta of 1.28, indicating high volatility in a year.
Domestic brokerage firm Nirmal Bang institutional Equities has initiated coverage on Sterlite Technologies Ltd (STL) with a 40 per cent upside in the counter from its previous close.
Nirmal Bang expects Sterlite Technologies to benefit from a combination of improving demand, a recovery in earnings and a gradual shift towards higher-margin connectivity products. The brokerage views the company as an integrated optical connectivity player, with its optical networking business accounting for around 95% of overall revenue.
The brokerage estimates Sterlite Tech’s revenue could more than double in FY27, rising 103% year-on-year to Rs 9,625.6 crore, before increasing further to Rs 16,828.8 crore by FY29. The growth is expected to be supported by a sharp increase in optical fibre cable (OFC) volumes, which Nirmal Bang projects will rise from 32 million fibre-km in FY26 to 68 million fibre-km by FY29.
Profitability is also expected to improve significantly. Nirmal Bang sees EBITDA margin expanding to 23% in FY27 from 12.3% in FY26, while gross margin could improve to 52% from 49.7%. The brokerage also expects stronger realisations in the OFC business, with average realisation projected to increase from Rs 1,219 per fibre-km in FY26 to Rs 1,942 per fibre-km by FY29.
Brokerage Nuvama has a price target of Rs 1310 and an outperform call on the stock.
"We are raising FY27E EBITDA by 8% to factor in stronger visibility (we are currently 21% below FY29 EBITDA guidance). Reiterate ‘BUY’ with a Sep-27 TP of Rs 1,310 (earlier Rs 1,100), based on 20x Sep-28 EV/EBITDA (implies 35x FY28E EPS). At CMP, the stock trades at 15.9x FY28E EV/EBITDA (on a fully diluted basis)," said Nuvama.
Sterlite Technologies is engaged in designing, building and managing smarter digital networks. Its digital networks focused business products, services and software includes optical communication products, network and system integration services and operations support systems (OSS)/business support system (BSS) software solutions. It operates in six continents and more than 100 countries.
Shares of Sterlite Technologies Ltd rose for the fifth session today, surging 21% in two days. The rally in the stock comes amid global investment firm Nomura assigning a Buy call on the stock with a target price of Rs 1,350. The stock has been gaining for five days. Strong industry tailwinds are expected to drive robust growth, Nomura said adding that it expects revenue/EBITDA CAGR of 50%/89% over FY26–29.
The brokerage is of the view that rapid data centre additions and constrained supply are driving an optical fibre cable demand supercycle. The company is well-positioned to benefit from strong optical fibre cable demand due to its integrated capacity.
The stock is overbought on charts with a RSI of 75.3. An RSI above 70 indicates a stock has more buyers than sellers in a trading session.
Sterlite Technologies shares rose 5% to a fresh record of Rs 1046.90 against the previous close of Rs 999.60. Market cap of the firm rose to Rs 53,667 crore.
Sterlite Technologies share price has risen 454% during the last six months and gained 920% in 2026.
The stock trades above its 5 day, 10 day, 20-day, 30 day, 50-day, 100-day and 200-day moving averages, which signals a strong uptrend. The stock has a beta of 1.28, indicating high volatility in a year.
Domestic brokerage firm Nirmal Bang institutional Equities has initiated coverage on Sterlite Technologies Ltd (STL) with a 40 per cent upside in the counter from its previous close.
Nirmal Bang expects Sterlite Technologies to benefit from a combination of improving demand, a recovery in earnings and a gradual shift towards higher-margin connectivity products. The brokerage views the company as an integrated optical connectivity player, with its optical networking business accounting for around 95% of overall revenue.
The brokerage estimates Sterlite Tech’s revenue could more than double in FY27, rising 103% year-on-year to Rs 9,625.6 crore, before increasing further to Rs 16,828.8 crore by FY29. The growth is expected to be supported by a sharp increase in optical fibre cable (OFC) volumes, which Nirmal Bang projects will rise from 32 million fibre-km in FY26 to 68 million fibre-km by FY29.
Profitability is also expected to improve significantly. Nirmal Bang sees EBITDA margin expanding to 23% in FY27 from 12.3% in FY26, while gross margin could improve to 52% from 49.7%. The brokerage also expects stronger realisations in the OFC business, with average realisation projected to increase from Rs 1,219 per fibre-km in FY26 to Rs 1,942 per fibre-km by FY29.
Brokerage Nuvama has a price target of Rs 1310 and an outperform call on the stock.
"We are raising FY27E EBITDA by 8% to factor in stronger visibility (we are currently 21% below FY29 EBITDA guidance). Reiterate ‘BUY’ with a Sep-27 TP of Rs 1,310 (earlier Rs 1,100), based on 20x Sep-28 EV/EBITDA (implies 35x FY28E EPS). At CMP, the stock trades at 15.9x FY28E EV/EBITDA (on a fully diluted basis)," said Nuvama.
Sterlite Technologies is engaged in designing, building and managing smarter digital networks. Its digital networks focused business products, services and software includes optical communication products, network and system integration services and operations support systems (OSS)/business support system (BSS) software solutions. It operates in six continents and more than 100 countries.