Sterlite Tech [BSE: 532374, NSE: STRTECH], a global data network solutions company, has won a Rs 1,512 crore MahaNet-I project for the implementation of BharatNetII in Maharashtra.
Maharashtra Information Technology Corporation Limited (MahaIT), a state-led nodal agency, aims to connect approximately 13,000 gram panchayats through the MahaNet-I project. As a leading implementation partner, Sterlite Tech will connect 4,045 gram panchayats across eight districts of Maharashtra, impacting over 7.5 million citizens.
Elaborating on the project, SVR Srinivas (IAS), Chairman & MD - MahaIT and Principal Secretary-IT, Government of Maharashtra, said, "Sterlite Tech will design, build and manage a carriergrade network, capable of riding Gigabit-ready broadband applications to the last-mile. The Company has successfully rolled out broadband networks for the Indian defence and for leading telcos, and now we are looking at them to bring in their technological expertise and best practices to MahaNet-I."
Sterlite Tech was associated with BharatNet in phase I, and will now partner with Maharashtra for BharatNet phase II to enable integrated digital services to the last-mile. Combining its extensive experience in network design and rollout, and capabilities in latest deployment technologies such as video surveys, geo-monitoring, sensors and analytics, with MahaNet-I, Sterlite Tech will continue its strong commitment towards achieving the Digital India vision.
Elaborating on the project, KS Rao, CEO - Telecom Services Business, Sterlite Tech, said, "Ensuring e-connectivity to the villages through our unique Lead 360 deployment approach, we are creating a smarter digital network. Once the data transmission network is complete, it will ride various applications, including e-education, e-health and e-governance, thereby improving everyday living experiences of the citizens in the region."
Shares of STERLITE TECHNOLOGIES LTD. was last trading in BSE at Rs.374.6 as compared to the previous close of Rs. 388.1. The total number of shares traded during the day was 248595 in over 4947 trades.
The stock hit an intraday high of Rs. 395.9 and intraday low of 370.1. The net turnover during the day was Rs. 94581435.