Sterlite Technologies: Up 700% in 2026, third upper circuit hit today; price target and factor behind the rally 

Shares of Sterlite Technologies Ltd hit an upper circuit for the third straight session on Tuesday. The stock also touched a fresh 52-week high for the second straight session. With the current leg of rally, the stock has turned overbought on charts with a RSI of 74.5. An RSI above 70 indicates a stock has more buyers than sellers in a trading session.

The stock hit upper circuit of 5% for the third straight session. Sterlite Technologies shares rose 5% to a fresh 52 week high of Rs 825.60 against the previous close of Rs 787.65. On September 7, the stock closed at a 52 week high of Rs 787.65.

Market cap of the firm rose to Rs 42,500 crore.

The rally in the stock of global technology company comes after the company held an investor meeting last week in which it unveiled targets for FY29.

Sterlite has drawn a 'Lakshya' roadmap, which targets FY29 revenue of Rs 20,000 crore, greater than 4 times in FY26 levels, and an EBITDA margin of over 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 cleared a Rs 3,000 crore capital expenditure (capex) plan to expand capacity at its existing manufacturing facility.

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 356% during the last six months and gained 707% in 2026.

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 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.