The merger of Elitecore into Sterlite Tech will allow for seamless integration of two companies leading to stronger customer offerings as one-telecom entity.
Sterlite Tech also announced completion of Elitecore Technologies’ merger, which is a global provider of Operation Support Service (OSS) & Business Support Ser vice (BSS) solution. Its pre-integrated platform has the capability to monetise all IP networks including 3G/LTE, Wi-Fi, Cable, ADSL, FTTH. Sterlite Tech had acquired Elitecore Technologies in 2015.
The merger of Elitecore into Sterlite Tech will allow for seamless integration of two companies, leading to stronger customer offerings as one-telecom entity. Sterlite Tech has been in transformation phase for the last few years from a manufacturing play to a specialty business model, straddling the entire telecom value chain by significantly adding its presence into solutions, software and ser vices. This evolution of business model will substantially increase the company’s addressable market size and drive improved ROCEs.
The merger of Elitecore into Sterlite Tech will allow for seamless integration of two companies, leading to stronger customer offerings as one-telecom entity. Sterlite Tech has been in transformation phase for the last few years from a manufacturing play to a specialty business model, straddling the entire telecom value chain by significantly adding its presence into solutions, software and ser vices. This evolution of business model will substantially increase the company’s addressable market size and drive improved ROCEs.
Sterlite Technologies Ltd is currently trading at Rs. 88.2, down by Rs. 0.65 or 0.73% from its previous closing of Rs. 88.85 on the BSE.
The scrip opened at Rs. 90.2 and has touched a high and low of Rs. 90.6 and Rs. 87.5 respectively. So far 499282(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3511.25 crore.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 109.9 on 04-Aug-2015 and a 52 week low of Rs. 63.5 on 15-Jun-2015. Last one week high and low of the scrip stood at Rs. 91.45 and Rs. 86.5 respectively.
The promoters holding in the company stood at 54.71 % while Institutions and Non-Institutions held 16.03 % and 29.24 % respectively.
The stock is currently trading above its 50 DMA.
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