Sterlite Tech [BSE: 532374, NSE: STRTECH], an end-to-end global technology leader in smarter digital networks will be enabling UAE-based telecommunications service provider du to roll out futuristic networks, Internet of Things (IoT) and Fibre-to-the-Home (FTTH) services through its smarter network technologies, over the next three years. As part of the agreement, Sterlite Tech will supply smarter optical fibre cables for outdoor and indoor requirements.
du is a UAE-based telecommunications service provider that aims to contribute towards the transformation of its communities through mobile and fixed telephony, broadband connectivity and IPTV services. The Company also offers carrier services, a data hub, internet exchange facilities and satellite services for broadcasters.
Highlighting the benefits of this partnership, Saleem AlBlooshi, Executive Vice President - Infrastructure & Technology, du, said, "With the global consumption behaviour shifting towards data, we are aiming to bring the next revolution in telecommunications through service innovation, and improving agility through a future-proof digital infrastructure. In-line with these requirements to evolve, we are matching our smarter network offerings that are ready for transition towards next-generation networks and Internet of Things."
Speaking on the agreement, Ankit Agarwal, Head - Global Sales, Sterlite Tech, said, "With an on-going relationship with du for the past six years, we have renewed the partnership for our innovative range of smarter optical communication technologies. Through this agreement, we will be a key supplier of optical fibre products with higher fibre counts for du's Internet of Things and FTTH requirements in UAE, over the next three years. This will provide remarkable flexibility to du to offer solutions for high-bandwidth consuming applications such as Augmented and Virtual Reality, Driverless Cars, among others."
Sterlite Tech focuses on designing, building and managing smarter networks through its unique silicon-to-software technology capabilities and operations in more than 100 countries. With a strong portfolio of 155 patents, the Company has a focused business spanning across optical communication products, system integration services and telecom software solutions.
Shares of STERLITE TECHNOLOGIES LTD. was last trading in BSE at Rs.222.3 as compared to the previous close of Rs. 222.65. The total number of shares traded during the day was 223103 in over 2717 trades.
The stock hit an intraday high of Rs. 228.95 and intraday low of 221.65. The net turnover during the day was Rs. 49997606.