Sterlite Technologies Limited
NSE: STLTECHTelecom - Equipment & AccessoriesASM stage 4Trade-to-trade true
Share price
₹1,011.55
-0.52% close of 8 Oct 2026
Business score
How strong the business is, in one number. The parts behind it are in Pro.
43
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹49,566 Cr
P/E ratio
210.0
P/B ratio
21.8
ROCE
7.7%
ROE
1.2%
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Our sales figures for this company step up at Sep 2006 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.
Whether it grew faster than its sector
Our sales figures for this company step up at Sep 2006 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.
Room to re-rate, or risk of de-rating
Too little price history yet to compare it with its own past.
Whether growth justifies the valuation
Its earnings are falling, so growth cannot justify the price.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Sterlite Technologies Limited — this one | -43%/yr | 210.0× | — |
| ITI Limited | 16%/yr | — | — |
| Tejas Networks Limited | — | — | — |
| Optiemus Infracom Limited | 16%/yr | 100.1× | ₹6.3 |
| Birla Cable Limited | -20%/yr | 23.4× | — |
| UMIYA BUILDCON LIMITED | 3%/yr | 18.5× | ₹6.2 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Telecom - Equipment & Accessories), it ranks 4 of 8 on returns, 4 of 7 on growth, 2 of 8 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 7.7% on capital, ahead of 50% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Yes — Over the last five years it made ₹2471 crore of cash from the business, spent ₹1486 crore on plant and equipment, and returned ₹837 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 305 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
6 of 9 checks clear · 67%
Latest result
What the last results showed. Whether management kept its word is in Pro.
Results are expected soon.
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹49,566 Cr
- Prev close
- ₹1,011.55
- 52w High
- ₹1,051
- 52w Low
- ₹84.6
- Enterprise value
- ₹51,181 Cr
- Beta
- 1.4
- Price CAGR 1y
- 763.0%
- Price CAGR 3y
- 109.0%
- Price CAGR 5y
- 38.0%
- Price CAGR 10y
- 32.0%
Ratios
- Return on assets
- 0.9%
- PEG ratio
- -5.1
- P/E ratio
- 210.0
- P/B ratio
- 21.8
- EV / EBITDA
- 61.7
- Industry P/E
- 77.9
- ROCE
- 7.7%
- ROCE 5y average
- 6.6%
- ROE
- 1.2%
- Debt / Equity
- 0.9
- Interest coverage
- 1.5
- Dividend yield
- 0.0%
- ROE 3y average
- -3.0%
- ROE last year
- 1.0%
Annual P&L
- Annual revenue
- ₹4,745 Cr
- Annual profit
- ₹56 Cr
- Operating margin
- 12.0%
- Net profit margin
- 1.2%
- EBITDA margin
- 12.0%
- Sales growth 3y
- -11.8%
- Sales growth 5y
- -0.3%
- Profit growth 3y
- -43.0%
- Profit growth 5y
- -37.0%
- EPS
- ₹1.2
- Sales growth TTM
- 36.0%
- Profit growth TTM
- 1490.0%
- Dividend payout
- 0.0%
Quarter P&L
- Sales latest quarter
- ₹1,910 Cr
- Profit latest quarter
- ₹197 Cr
- YoY quarterly sales growth
- 87.4%
- YoY quarterly profit growth
- 1870.0%
- OPM latest quarter
- 20.2%
Balance Sheet
- Book Value
- ₹46.3
- Face Value
- ₹2.0
- Total debt
- ₹1,942 Cr
- Total cash
- ₹323 Cr
- Borrowings
- ₹1,942 Cr
- Reserves / Equity
- 22.1
Cash Flow
- Operating cash flow
- ₹520 Cr
- Free cash flow
- ₹344 Cr
- FCF yield
- 0.2%
- Net cash flow
- -₹98 Cr
Shareholding
- Promoter holding
- 42.3%
- FII holding
- 19.7%
- DII holding
- 13.3%
- Public holding
- 24.7%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Sterlite Tech. | 985.80 | 214.5 | 50,676 | 0.00 | 197.0 | 1870.0 | 1,910.0 | 87.4 | 7.7 |
| ITI | 238.10 | 22,933 | 0.00 | -32.5 | 45.9 | 425.0 | -14.7 | 1.4 | |
| Tejas Networks | 451.35 | 8,040 | 0.00 | -202.2 | -4.3 | 402.2 | 99.1 | -14.6 | |
| Optiemus Infra. | 820.45 | 101.8 | 7,398 | 0.00 | 21.2 | 45.8 | 883.0 | 102.8 | 10.9 |
| Orient Cables | 396.00 | 83.8 | 4,507 | 0.00 | 32.8 | 489.2 | |||
| Valiant Commun. | 1,695.00 | 72.8 | 1,982 | 0.08 | 7.8 | 65.0 | 25.4 | 38.8 | 37.7 |
| Birla Cable | 367.25 | 23.9 | 1,102 | 0.32 | 30.7 | 2190.3 | 266.6 | 51.1 | 8.9 |
| Median | 396.00 | 72.8 | 1,982 | 0.00 | 7.8 | 55.5 | 266.6 | 45.9 | 8.3 |
Competes with: Aksh Optifibre Limited, Birla Cable Limited, ITI Limited, Kavveri Defence & Wireless Technologies Limited, Optiemus Infracom Limited, Orient Cables (India) Limited, Tamilnadu Telecommunication Limited, Tejas Networks Limited, UMIYA BUILDCON LIMITED
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,522 | 1,494 | 1,322 | 843 | 872 | 1,074 | 998 | 1,052 | 1,019 | 1,034 | 1,257 | 1,441 | 1,910 |
| Expenses | 1,308 | 1,281 | 1,232 | 812 | 808 | 957 | 892 | 927 | 887 | 905 | 1,137 | 1,246 | 1,525 |
| Material Cost | 554 | 545 | 711 | 651 | 805 | ||||||||
| Change in Inventories | -41 | -48 | -55 | 68 | 158 | ||||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | ||||||||
| Employee Cost | 156 | 156 | 169 | 178 | 195 | ||||||||
| Other Expenses | 218 | 252 | 312 | 349 | 367 | ||||||||
| Operating Profit | 214 | 213 | 90 | 31 | 64 | 117 | 106 | 125 | 132 | 129 | 120 | 195 | 385 |
| OPM % | 14 | 14 | 6.81 | 3.68 | 7.34 | 11 | 11 | 12 | 13 | 12 | 9.55 | 14 | 20 |
| Other Income | 30 | 11 | 12 | 24 | 8 | 5 | -4 | -24 | 8 | 12 | -6 | 54 | 12 |
| Exceptional items (within Other Income) | 0 | 0 | -15 | 31 | 0 | ||||||||
| Interest | 92 | 95 | 94 | 71 | 56 | 62 | 58 | 65 | 50 | 55 | 56 | 63 | 55 |
| Depreciation | 81 | 85 | 84 | 81 | 78 | 79 | 80 | 79 | 77 | 80 | 79 | 77 | 85 |
| Profit before tax | 71 | 44 | -76 | -97 | -62 | -19 | -36 | -43 | 13 | 6 | -21 | 109 | 257 |
| Tax % | 27 | 27 | -22 | -15 | -23 | -26 | -33 | -7 | 23 | 33 | -19 | 46 | 23 |
| Net Profit | 52 | 32 | -59 | -82 | -48 | -14 | -24 | -40 | 10 | 4 | -17 | 59 | 197 |
| EPS in Rs | 1.35 | 0.85 | -1.43 | -2.05 | -0.98 | -0.29 | -0.49 | -0.82 | 0.20 | 0.08 | -0.35 | 1.21 | 4.04 |
| Diluted EPS in Rs | 0.20 | 0.08 | -0.35 | 1.17 | 3.71 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,097 | 2,144 | 2,449 | 3,177 | 5,087 | 5,154 | 4,825 | 5,437 | 6,925 | 4,083 | 3,996 | 4,745 | 5,642 |
| Expenses | 2,634 | 1,685 | 1,929 | 2,431 | 3,968 | 4,085 | 4,015 | 4,772 | 6,030 | 3,612 | 3,580 | 4,176 | 4,813 |
| Material Cost | 2,461 | ||||||||||||
| Change in Inventories | -76 | ||||||||||||
| Purchases of Stock-in-Trade | 0 | ||||||||||||
| Employee Cost | 659 | ||||||||||||
| Other Expenses | 1,132 | ||||||||||||
| Operating Profit | 463 | 459 | 519 | 746 | 1,120 | 1,069 | 811 | 665 | 895 | 471 | 416 | 569 | 829 |
| OPM % | 15 | 21 | 21 | 23 | 22 | 21 | 17 | 12 | 13 | 12 | 10 | 12 | 15 |
| Other Income | 49 | 10 | 20 | 38 | 37 | -25 | 54 | -22 | -64 | 74 | -15 | 75 | 72 |
| Exceptional items (within Other Income) | 16 | ||||||||||||
| Interest | 327 | 119 | 123 | 104 | 105 | 221 | 203 | 238 | 311 | 293 | 241 | 224 | 229 |
| Depreciation | 185 | 126 | 159 | 182 | 195 | 290 | 285 | 308 | 309 | 314 | 316 | 313 | 321 |
| Profit before tax | 0 | 225 | 257 | 497 | 856 | 533 | 377 | 97 | 211 | -62 | -156 | 107 | 351 |
| Tax % | 3,355 | 29 | 15 | 27 | 32 | 20 | 30 | 54 | 40 | -8 | -21 | 48 | |
| Net Profit | -4 | 160 | 218 | 364 | 578 | 424 | 265 | 45 | 127 | -57 | -123 | 56 | 243 |
| EPS in Rs | -0.07 | 3.89 | 5.06 | 8.34 | 14 | 11 | 6.95 | 1.51 | 3.54 | -1.28 | -2.52 | 1.15 | 4.98 |
| Diluted EPS in Rs | 1.11 | ||||||||||||
| Dividend Payout % | -896 | 3 | 25 | 24 | 25 | 33 | 29 | 33 | 28 | 0 | 0 | 0 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 8%
- 5 years
- -0%
- 3 years
- -12%
- TTM
- 36%
Compounded profit growth
- 10 years
- -16%
- 5 years
- -37%
- 3 years
- -43%
- TTM
- 1490%
Stock price CAGR
- 10 years
- 32%
- 5 years
- 38%
- 3 years
- 109%
- 1 year
- 763%
Return on equity
- 10 years
- 11%
- 5 years
- 0%
- 3 years
- -3%
- Last year
- 1%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 79 | 79 | 80 | 80 | 81 | 81 | 79 | 80 | 80 | 80 | 98 | 98 |
| Reserves | 1,008 | 676 | 800 | 1,095 | 1,639 | 1,839 | 1,908 | 1,875 | 2,011 | 1,943 | 1,892 | 2,170 |
| Borrowings | 5,725 | 1,085 | 1,092 | 1,178 | 2,067 | 2,577 | 2,944 | 3,475 | 3,834 | 3,376 | 1,926 | 1,942 |
| Other Liabilities | 1,568 | 775 | 938 | 1,359 | 3,226 | 2,698 | 3,124 | 3,281 | 2,886 | 2,879 | 1,530 | 2,078 |
| Total Liabilities | 8,380 | 2,614 | 2,911 | 3,712 | 7,012 | 7,195 | 8,055 | 8,711 | 8,811 | 8,278 | 5,446 | 6,288 |
| Fixed Assets | 4,055 | 1,137 | 1,313 | 1,234 | 2,468 | 3,060 | 3,174 | 3,351 | 3,246 | 3,209 | 2,928 | 2,971 |
| CWIP | 2,193 | 172 | 66 | 357 | 419 | 133 | 227 | 143 | 129 | 62 | 23 | 19 |
| Investments | 59 | 16 | 49 | 175 | 135 | 333 | 303 | 92 | 136 | 123 | 90 | 467 |
| Other Assets | 2,074 | 1,289 | 1,483 | 1,946 | 3,990 | 3,669 | 4,350 | 5,125 | 5,300 | 4,884 | 2,405 | 2,831 |
| Total Assets | 8,380 | 2,614 | 2,911 | 3,712 | 7,012 | 7,195 | 8,055 | 8,711 | 8,811 | 8,278 | 5,446 | 6,346 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 393 | 215 | 488 | 729 | 631 | 696 | 638 | 584 | 228 | 791 | 348 | 520 |
| Cash from Investing Activity | -1,172 | -128 | -232 | -586 | -1,172 | -624 | -615 | -481 | -56 | -211 | -295 | -485 |
| Cash from Financing Activity | 850 | -81 | -187 | -152 | 570 | -68 | 23 | 115 | -132 | -691 | 4 | -133 |
| Net Cash Flow | 71 | 6 | 69 | -9 | 29 | 4 | 46 | 218 | 40 | -111 | 57 | -98 |
| Free Cash Flow | -759 | -9 | 276 | 273 | -172 | 313 | 184 | -8 | -121 | 544 | 226 | 344 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 98 | 121 | 102 | 100 | 97 | 111 | 110 | 115 | 96 | 143 | 75 | 82 |
| Inventory Days | 83 | 78 | 122 | 97 | 87 | 67 | 95 | 121 | 92 | 178 | 134 | 139 |
| Days Payable | 180 | 141 | 164 | 188 | 281 | 212 | 296 | 319 | 238 | 472 | 188 | 204 |
| Cash Conversion Cycle | 1 | 57 | 60 | 8 | -97 | -34 | -91 | -83 | -50 | -151 | 22 | 16 |
| Working Capital Days | -86 | -8 | -16 | -5 | -36 | -48 | -33 | -29 | -46 | -87 | -63 | -30 |
| ROCE % | 5 | 8 | 20 | 27 | 30 | 19 | 12 | 8 | 11 | 3 | 3 | 8 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
1,615inr_cr
2026-03-31
order book, Rs crore
18,618inr_cr
2026-06-30
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
56.75cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
3,45,96,888inr
2026-03-31
News
News and filings about Sterlite Technologies Limited. Open one to see why it matters.
1 Oct, 11:30 IST · Company event · medium impact
Sterlite Technologies Limited has won a new order or contract
3 Sept, 18:05 IST · Company event · medium impact
Sterlite Technologies Limited is adding manufacturing capacity
1 Sept, 18:05 IST · Company event · medium impact
HFCL Limited has informed the Exchange Intimation for entering into a long term supply agreement with a customer for supply of Optical Fiber Cables (OFC), worth USD 244 million approx. equivalent to Rs.2329 Crore approx. (approximately INR Two Thousand Three Hundred Twenty Nine Crore)
30 Aug, 18:05 IST · Company event · medium impact
Sterlite Technologies Limited has won a new order or contract
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Buys from
- Apar Industries Limited · Cables / optical-related supply (major cables-segment client)
- Kritika Wires Limited · Steel and aluminium wire for cables
Sells to
- Bharat Sanchar Nigam Ltd · optical fibre cable & high-speed transmission for BharatNet / govt broadband
- Bharti Airtel · optical fibre & cable, FTTH/5G network design, deployment & integration
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Telecommunication
- Industry
- Telecom - Equipment & Accessories
- Classification
- Telecommunication › Telecom - Equipment & Accessories
- ISIN
- INE089C01029
Business segments
- Optical networking business · 94%
- Digital and technology solutions · 6%
Plants
- STL Aurangabad optical fibre plant
- STL Brescia/Origgio plant (Italy)
- STL Gaurav glass plant, Shendra
- STL Haimen optical fibre unit
- STL Haridwar plant
- STL Palmetto OFC plant, South Carolina
- STL Silvassa optical fibre cable plant, Rakholi
News impact
Big market events that reach Sterlite Technologies Limited, and how the effect spreads.
30 Sept, 12:10 IST · Market event · high impact
STL Networks shares jump 5% after emerging as L1 bidder for RailTel contract worth Rs 250 crore
STL Networks turned cheapest bidder for a Rs 250-crore RailTel cloud job, helping its order book while rivals and RailTel see no real change, and weak finances argue caution.
Who it hits first
- STL Networks, a company that builds telecom networks and data links, emerged as the cheapest (L1) bidder for a Rs 249.8-crore RailTel job to set up cloud computers at data centres and backup sites.
- Its shares jumped 5% as investors cheered the likely order, though L1 means lowest bidder, not a signed contract yet.
- The firm also plans a new fully owned unit for data centres and connectivity, signalling a push into cloud work.
Who may gain
- STL Networks — likely Rs 249.8 crore of cloud-build work if L1 turns into a final order
- RailTel — gets modern cloud and backup sites for its rail-telecom network
- Data-centre gear sellers — may get server and cable orders when the build starts
Along the supply chain
Downstream
Downstream, RailTel gets built cloud sites to run trains' telecom and sell bandwidth, and end users are railway offices and public customers using that network.
Upstream
Upstream, the pack lists no parts supplier to STL Networks for this job — it will buy servers, cables and software itself when the order is signed; fibre makers only gain if cable orders follow.
Where demand moves
Business
Business demand moves from RailTel, the government rail-telecom owner, to STL Networks, the network builder: Rs 249.8 crore to deploy cloud gear at main and backup data centres, if the L1 bid is confirmed.
Capital
Investors bought STL Networks shares, up 5% on the L1 news, with momentum from sharp gains in recent months; no fundraising was announced, so this is market buying, not new money into the firm.
How it spreads across sectors
Information Technology
Neutral for software firms — this is a hardware-build job for data centres, not a software contract, so no demand shifts.
Telecommunication
Small cheer for network builders on a Rs 249.8-crore government cloud tender, but one L1 bid does not change sector workload.
A pattern seen before
Cascade chain
- RailTel awards Rs 249.8cr cloud-infra build → STL Networks deploys data-centre gear
- Data-centre gear pull → limited Capital Goods orders (servers, cables)
- No Cement/Steel/Banking readthrough — cloud infra, not public works
Pattern name
Govt Capex Cascade
Patterns
- Govt Capex Cascade
Sectors queried
- Banking
- Capital Goods
- Cement
- Infrastructure
- Steel
When it plays out
Immediate
In 1-7 days STL Networks shares stay jumpy as traders wait to see if L1 becomes a signed Rs 249.8-crore order.
Medium term
Over 1-6 months equipment buying and site work begin, with revenue only if the contract is awarded and executed.
Short term
In 1-4 weeks RailTel confirms the winner and STL Networks details its new data-centre unit.
25 Sept, 23:37 IST · Market event · medium impact
India’s net FDI rises to five-year high of $7.3 billion in July 2026
India’s net foreign investment hit a five-year high of $7.3 billion in July, modestly helping insurers, exchanges and tech suppliers, with no clear losers.
Who it hits first
- India pulled in $7.3 billion in net foreign direct investment in July 2026, the highest monthly figure in five years, signalling stronger foreign confidence.
- Money flowed mainly into phone networks (communication), banks and insurers (financial services) and software and computer services, lifting the outlook for those industries.
- SBI Life Insurance, which sells life cover, and Multi Commodity Exchange, which runs commodity trading, get a mild sentiment boost as foreign interest in finance revives.
- Netweb Technologies, which builds servers for data centers, could see longer-term demand if computer-services investment turns into new data capacity.
- Sterlite Technologies, which makes fibre-optic cables, would normally cheer communication inflows, but strict exchange trading curbs (ASM stage 4) overshadow the news.
Who may gain
- SBI Life Insurance — life insurer, gains from brighter financial-services sentiment
- Multi Commodity Exchange — commodity exchange, gains if foreign flows lift trading volumes
- Netweb Technologies — server maker, gains if tech FDI spurs data-center orders
- Large banks and insurers broadly — benefit from stronger capital inflows and firmer valuations
Along the supply chain
Downstream
Downstream, foreign capital into phone, finance and software firms may later flow to network builders, server makers and service vendors, but today brings sentiment only, not confirmed purchases.
Upstream
No direct supply-chain link — this is a capital-flow event, not a factory order; upstream suppliers of coal, gas or consumer goods see no change.
Where demand moves
Business
Foreign firms putting money into Indian finance, software and phone networks can, over time, mean more software contracts, more insurance and banking business, and more network gear orders — for example, data-center servers from Netweb Technologies and fibre from Sterlite Technologies — though no new orders are announced today.
Capital
The $7.3 billion inflow supports the rupee, adds liquidity to equity markets and can lift trading activity on venues like Multi Commodity Exchange, while insurers such as SBI Life Insurance benefit from richer financial-sector valuations.
How it spreads across sectors
Financial Services
Foreign money favours banks, insurers and market venues; sentiment improves and trading and deal activity may pick up.
Information Technology
Computer-services inflows support hopes for tech spending and data-center demand, aiding server and software firms.
Telecommunication
Communication inflows help carrier investment mood, supporting fibre and equipment makers, though trading curbs mute Sterlite Technologies.
When it plays out
Immediate
Mild positive mood for financial, IT and telecom shares; market-infra names like exchanges may see busier trading.
Medium term
If strong inflows persist, tech and finance firms could see real business gains such as mandates and network orders; otherwise the lift fades.
Short term
Follow-through depends on August FDI and foreign-investor flows; insurers and lenders drift with rate expectations.
15 Sept, 05:00 IST · Market event · medium impact
HFCL raises capex to Rs 1,800 crore for optical fibre expansion
Cable maker HFCL will spend Rs 1,800 crore expanding fibre-optic capacity for 5G and rural internet — good intent, but the stock is under trading curbs.
Who it hits first
- HFCL commits Rs 1,800cr to fibre capacity — growth intent for 5G and BharatNet cycles.
- ASM stage 4 caps both HFCL and Sterlite Tech moves mechanically.
- Fibre peers (Vindhya) get sentiment read-across on cycle validation.
Who may gain
- BharatNet cable suppliers if tender flow follows capacity bets.
Along the supply chain
Downstream
Telcos and BharatNet gain future domestic fibre supply; no near-term change.
Upstream
Preform and glass suppliers see future order visibility improve slightly.
Where demand moves
Business
No immediate demand change — capacity comes in 1-2 years; sentiment lifts the fibre tape now.
Capital
Money can barely express the view: ASM curbs freeze the two purest plays.
How it spreads across sectors
Capital Goods
Cable-equipment makers share the sentiment halo.
Telecommunication
Fibre-capex validation; ASM freezes the trade.
When it plays out
Immediate
Fibre names firm 1-2% within ASM bands; Vindhya freer to move.
Medium term
Fibre demand from 5G densification and exports fills the new lines — or strands them.
Short term
BharatNet tender awards decide whether capacity bets were early or right.
13 Sept, 04:28 IST · Market event · medium impact
Telcos brace for fresh tariff hikes ahead of Jio IPO
Phone companies are set to raise call and data prices again, lifting revenue for Airtel, Jio and Vodafone Idea but making bills costlier for crores of users.
Who it hits first
- Bharti Airtel: prime tariff-hike beneficiary with 55% margins dropping hikes to profit
- Vodafone Idea: highest-beta survivor — ARPU gains plus $3.5B debt deal form a rescue path, balance sheet still broken
- Jio (Reliance): hikes lift digital earnings, diluted at group level
Who may gain
- BHARTIARTL, BHARTIHEXA, INDUSTOWER (healthier tenants); equipment vendors second-order
Along the supply chain
Downstream
Crores of subscribers pay higher bills; enterprises reprice connectivity budgets.
Upstream
Tower, fibre and equipment vendors benefit only as telco cash converts to capex — slow second order.
Where demand moves
Business
Higher ARPU repairs telco cash flows, unlocking tower payments and future capex orders for vendors.
Capital
Telecom paper re-rates on pricing power; towerco (Indus) gets VI-risk discount unwind.
How it spreads across sectors
Telecommunication
ARPU reflation lifts operators 1-4%; vendors lag one cycle
When it plays out
Immediate
Airtel/Hexacom/Indus bid up on pricing-power math
Medium term
ARPU gains fund 5G capex; VI survival decides towerco re-rating
Short term
Actual hike announcements and Jio IPO pricing confirm or deny the trade
12 Sept, 04:23 IST · Market event · high impact
SBI-led group to provide $3.5 billion debt to Vodafone Idea for 4G/5G capex
State Bank and others will lend Vodafone Idea $3.5 billion for new networks without printing new shares — Vi survives to fight on, SBI protects its loans, and Airtel keeps a third rival.
Who it hits first
- Vodafone Idea funds 4G expansion and 5G rollout without dilution — survival risk drops sharply
- SBI leads and derisks its existing Vi exposure while earning arrangement fees
- Bharti Airtel keeps a third competitor — subscriber-share gains slow but tariff discipline holds
Who may gain
- IDEA: funded survival plus capex
- Network vendors (Tejas, HFCL, Indus Towers) on Vi orders
- SBI: protected book plus fees
Along the supply chain
Downstream
Vi subscribers get better coverage; dealers and distributors regain a viable third brand to sell.
Upstream
Telecom gear makers (HFCL, Tejas Networks, Sterlite Tech fibre) and tower companies gain a third large buyer.
Where demand moves
Business
Vi places network equipment and tower orders over 4-6 quarters, reviving vendor order books; enterprise and consumer competition stays 3-way, capping ARPU upside but stabilizing churn.
Capital
Special-situation money rotates into Vi on survival confirmation; lender banks see exposure-risk premium fade; Airtel's scarcity premium compresses mildly.
How it spreads across sectors
Financial Services
lender exposure derisked; SBI-led consortium model validated for stressed champions
Telecommunication
3-player structure preserved; capex cycle revives; ARPU discipline holds
When it plays out
Immediate
Vi rallies 5-8% (precedent +8.9%); lenders edge up; Airtel flat
Medium term
5G rollout and ARPU repair over 1-2 years decide whether rescue becomes recovery
Short term
Consortium closure and disbursement milestones drive the next leg; Q2 subscriber data confirms
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 24 Apr 2025 | demerger | ₹0 |
|---|---|---|
| 8 Aug 2023 | unspecified | ₹1 |
| 22 Aug 2022 | unspecified | ₹0.5 |
| 20 Aug 2021 | unspecified | ₹2 |
| 27 Aug 2020 | unspecified | ₹3.5 |
| 18 Jul 2019 | unspecified | ₹3.5 |
| 21 Jun 2018 | unspecified | ₹2 |
| 29 Jun 2017 | unspecified | ₹0.75 |
Splits, bonuses & buybacks
- daily-prices repair: 10 rows from NSE's archive (replace 2, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 5 Jun 2026 | MOTILAL OSWAL MUTUAL FUND | BUY | 36,48,537 | ₹619.07 |
Insider trades
| Disclosed | Who | Type | Shares | Value ₹ Cr |
|---|---|---|---|---|
| 30 Sep 2026 | Navin Agarwal · Promoter Group | SELL | 2,000 | 0.18 |
| 30 Sep 2026 | Navin Agarwal · Promoter Group | SELL | 1,445 | 0.12 |
| 11 Sep 2026 | Navin Agarwal · Promoter Group | SELL | 2,500 | 0.21 |
| 10 Sep 2026 | Navin Agarwal · Promoter Group | SELL | 2,500 | 0.21 |
| 7 Sep 2026 | Navin Agarwal · Promoter Group | SELL | 5,000 | 0.37 |
| 1 Sep 2026 | Navin Agarwal · Promoter Group | SELL | 5,000 | 0.36 |
| 13 Aug 2026 | Navin Agarwal · Promoter Group | SELL | 2,500 | 0.17 |
| 12 Aug 2026 | Navin Agarwal · Promoter Group | SELL | 5,000 | 0.32 |
| 7 Aug 2026 | Navin Agarwal · Promoter Group | SELL | 2,500 | 0.17 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Earnings call · Q1FY2724 Jul 2026
- Annual report · 2025-2624 Jul 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.