Sterlite Technologies jumps 5% on optical fibre network deal with Bharti Airtel

NEW DELHI: Shares of Sterlite Technologies jumped 5 per cent in Wednesday's trade after the company said it will build an optical fibre network for Bharti Airtel across 10 telecom circles. The company did not disclose the deal amount.

The modern optical network will enable Airtel to deliver enhanced customer experience through scalability, reduced latency, and improved bandwidth, the company told BSE.

Following the development, the stock rose 5.24 per cent to hit a high of Rs 165.55 on BSE.

The densely fiberised future-ready network will form the foundation for many next-generation of services such as 5G, Fibre to The Home (FTTH), Internet of Things (IoT) and enterprise networks, the company said, while adding that it has been a long-term partner to Airtel in the optical connectivity space.

CEO - Network Services and Software, KS Rao, said that the need for dense fiberisation will continue to grow on the back of investments in 5G, FTTH, data centres, and next-gen digital networks.

"We are excited about this stronger and renewed strategic partnership with Airtel," Rao said.

Bharti Airtel's CTO Randeep Sekhon said: "This 5G-ready and high capacity network will enable us to provide faster delivery of new services, while delivering an enhanced user experience".