Sterlite Technologies joins hands with Swoop to upgrade fibre connectivity in Australia, check stock reaction

Shares of Sterlite Technologies Ltd were trading on a flat note even as the firm said it has joined hands with Swoop Holdings Limited to upgrade 1,000 homes in Western Australia with high-speed Fibre-to-theHome (FTTH) connectivity. Sterlite Technologies will supply Swoop Infrastructure with state-of-the-art optical networking and connectivity solutions, further strengthening digital infrastructure in the region.

Sterlite Technologies shares lost 0.98% to Rs 75.50 on Wednesday against the previous close of Rs 76.25 on BSE. Market cap of the firm  stood at Rs 3674 crore. The stock touched its 52 week high of Rs 155 on July 30, 2024 and fell to a 52 week low of Rs 72.16 on April 7, 2025. The stock has fallen 46.67% in a year and lost 35% this year.

"The collaboration builds on Swoop’s acquisition of conduit and fibre assets in Seacrest Estate near Geraldton, Western Australia. Sterlite Technologies has a strong track record of enabling network operators to deploy and scale fibre networks with sustainable, high-performance optical solutions. Manufactured at STL’s "Zero Waste to Landfill" certified facilities, these solutions set new industry standards for durability and environmental responsibility," said Sterlite Technologies. 

Rahul Puri, CEO of Optical Networking Business at Sterlite Tech  said, "We are thrilled to be working with Swoop, one of Australia’s leading challenger telecom brands, to bring ultra-fast broadband to regional communities. With our comprehensive portfolio of advanced optical solutions, we are enabling Swoop to build a high performance, reliable network that delivers next-generation connectivity. This project reinforces Swoop’s ongoing investment in regional broadband infrastructure, ensuring communities have access to world-class internet speeds and service quality. "

Sterlite Technologies stock has a one-year beta of 1.1, indicating very high volatility during the period. In terms of technicals, the relative strength index (RSI) of Sterlite Technologies stood at 34, signaling it's trading neither in the overbought nor in the oversold zone.

Sterlite Technologies shares are trading lower than the 5 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.

Sterlite Technologies is a global leader in end-to-end data network solutions. The company designs and deploy high capacity converged fibre cables and wireless networks. It has expertise ranging from optical fibre and cables, hyper-scale network.