Two upper circuits for Sterlite Technologies shares as firm discloses FY29 targets

Shares of Sterlite Technologies Ltd shares hit an upper circuit for the second straight session on Monday after the company held an investor meeting last week in which it unveiled targets for FY29. Sterlite Technologies shares closed 5% higher for the second straight session today. They stood at Rs 787.65 against the previous close of Rs 750.15.

Market cap of the firm rose to Rs 40,478 crore.

Sterlite's 'Lakshya' roadmap targets FY29 revenue of Rs 20,000 crore, greater than 4 times in FY26 levels, and an EBITDA margin of more than 27%, Nuvama analysts wrote in a note.

The brokerage raised FY27 and FY28 EBITDA estimates by 22% and 38%, respectively, reflecting the company’s revenue, profitability and capex guidance. The brokerage raised its price target to Rs 1,100 from Rs 770 and maintained a buy call on the telecom equipment stock.

The company also approved a Rs 3,000 crore capital expenditure (capex) plan to expand capacity at its existing manufacturing facility. Here’s a fully rewritten, publication-ready version:

The company plans to expand its manufacturing capacity by approximately 50% from the current installed base. The proposed expansion is targeted for completion by the end of FY29, significantly increasing the company’s production capabilities and supporting its expected growth over the coming years.

Sterlite Technologies share price has risen 334% during the last six months and gained 669% in 2026.

The stock has a RSI of 70.3, signalling more buyers than sellers for the share on bourses. The stock is trading above its 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 1.37, indicating high volatility in a year.

Sterlite Technologies is a global technology company. The company 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.