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CNBC TV18

CLSA upgrades Sterlite Technologies to Outperform, lifts target to ₹950 implying nearly 68% upside

AI Market Summary
CLSA upgraded Sterlite Technologies to Outperform and lifted its target price after record quarterly results, citing revenue and EBITDA beats, a $1.11B multiyear AI data-center optical connectivity contract, and a favorable European patent outcome. The firm is now net debt-free after a QIP, and optical products dominate revenue. This is a single-stock catalyst with limited broader market read-through.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT+0.87%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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CLSA upgraded Sterlite Technologies Ltd. to Outperform and raised its target price to ₹950, implying 68% upside from the latest close. It cited June-quarter revenue of ₹1910亿, beating estimates by 20%, and a 97% sequential jump in EBITDA to ₹385亿. CLSA also pointed to an $11.1亿美元 multi-year contract for AI data-centre optical connectivity products and a legal win in a European patent dispute. The company has become net debt-free, with its optical business accounting for 96% of revenue.
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