Sterlite Technologies Ltd (STL) shares jumped over 12% in morning trade on June 12, 2025, after the company announced a major agreement with Bharat Sanchar Nigam Limited (BSNL). The deal, valued at ₹2,631.14 crore (inclusive of GST), is part of the BharatNet initiative aimed at enhancing digital infrastructure in Jammu & Kashmir and Ladakh. As of 9:26 AM, the shares were trading 11.86% higter at Rs 86.10.
The agreement, signed on June 11, 2025, covers the design, supply, installation, upgradation, operation, and maintenance of the middle-mile network under BharatNet’s Package 13. This network will link Gram Panchayats to the national internet backbone, enabling faster and more reliable rural connectivity.
This development follows STL’s earlier disclosure dated March 27 and aligns with the Scheme of Arrangement approved by the NCLT Mumbai on February 14, 2025. STL’s Global Services Business, now demerged into STL Networks Limited, will take over the agreement once formalities are completed.
The ₹2,631 crore contract includes a capital expenditure of ₹1,620.5 crore and operational expenditure of ₹972.3 crore for the new network and ₹38.33 crore for the existing one. The project will span three years of construction and ten years of maintenance.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
