STL[NSE: STRTECH], a global data networks innovator, has signed a Memorandum of Understanding (MoU) with Indian Institute of Technology Madras, a premier academic and research institute, for sponsoring a Chair Professorship in 5G . Under this MoU, STL and IIT Madras will partner for research and advancements in 5G communications technology.
Data is the primary driver of growth in the industry today and the demand for it is all set to go up. 5G will address the demand by enabling ubiquitous connectivity. 5G technology are still evolving, while efficient and affordable standards need to be developed. The IIT Madras and STL industry - academia joint initiative will support development of such standards and technologies.
The Chair Occupant will be a full-time institute faculty and will be identified through institute's comprehensive review and selection process. Announcement of the first occupant of the Chair Professorship will happen in the first quarter of 2020. The Chair Occupant will work towards accelerating the advancements in 5G by unifying IIT Madras' research and domain knowledge with STL's industry expertise in 5G and end-to-end network connectivity.
The MoU for Sterlite Technologies Chair Professorship was signed in the presence of Prof. Bhaskar Ramamurthi, Director, IIT Madras, Prof. R. David Koilpillai, Head, Department of Electrical Engineering, IIT Madras and Prof. Mahesh Panchagnula, Dean (International and Alumni Relations,) IIT Madras and Dr. Badri Gomatam, Group CTO and Ms. Anjali Byce, CHRO from STL.
Commenting on the partnership Dr. Badri Gomatam, Group CTO, STL, said, "STL, as a data networks innovator is always at the forefront of bringing end-to-end connectivity solutions and transforming lives with technology. We are entering the era of 5G connectivity and we need to make the most of it. Through this partnership, STL and IIT Madras are committed to realise the enormous potential of 5G for customers and industry in India and global markets".
Speaking about the research that will be taken up under this Sterlite Technologies Chair Professorship, Prof. David Koilpillai, Head, Department of Electrical Engineering, IIT Madras, said, "We would like to express our sincere appreciation to Sterlite Technologies Limited (STL) for sponsoring this Chair, which will be instrumental in enabling the Department of Electrical Engineering to undertake cutting edge research in Communications technologies - both fundamental R&D and translational projects."
The initiative will play a critical role in boosting innovation and developing young talent in the 5G domain. With industry and academia getting together, this collaboration can be a cornerstone in discovering unique opportunities and making industrial relevance more prominent in academic research.
Shares of STERLITE TECHNOLOGIES LTD. was last trading in BSE at Rs.115.75 as compared to the previous close of Rs. 118.75. The total number of shares traded during the day was 107774 in over 2536 trades.
The stock hit an intraday high of Rs. 119.3 and intraday low of 115. The net turnover during the day was Rs. 12544381.