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Sterlite Technologies gains on arm entering to agreements with Impact Data Solutions Group

Sterlite Technologies is currently trading at Rs. 162.40, up by 6.30 points or 4.04% from its previous closing of Rs. 156.10 on the BSE.

The scrip opened at Rs. 158.40 and has touched a high and low of Rs. 162.70 and Rs. 158.25 respectively. So far 42809 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 399.00 on 01-Nov-2018 and a 52 week low of Rs. 96.65 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 179.95 and Rs. 152.35 respectively. The current market cap of the company is Rs. 6301.54 crore.

The promoters holding in the company stood at 53.83%, while Institutions and Non-Institutions held 12.91% and 33.26% respectively.

Sterlite Technologies’ (STL) wholly owned subsidiary — Sterlite Global Venture (Mauritius) has entered into definitive agreements to acquire a 100% stake in Impact Data Solutions Group. The Group, made up of Impact Data Solutions, UK and its affiliate company, provides network infrastructure solutions to hyper-scale data centres and colocation providers. The acquisition provides opportunities for cross leveraging customers, expanding geographically, and adds ‘inside’ data centre solutions to STL’s offerings portfolio.

As part of the transaction STL has acquired 80% of the shares of the Group in the first tranche and the balance 20% will be acquired over the next few years on an earn out model.

Sterlite Technologies is a global technology leader that designs, builds and manages smarter digital networks. Sterlite Tech engages with customers in more than 100 countries, with a digital web-scale offering across products, services and software.

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