Nuvama has retained its buy rating on Sterlite Technologies with a target price of ₹105, implying a potential upside of approximately 38% from the current market price of ₹76.30.
The brokerage noted that the company posted a decent set of Q4FY25 results, with encouraging signs of growth in the optical business. It highlighted improving demand conditions and expects higher utilisation to aid margin expansion.
Nuvama believes inventory destocking is in its final phase, and incremental demand from data centres and telecom operators will support revenue growth going forward.
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