Archive · 8 Sep 2026
Sterlite Technologies Surges 700% as FY29 Growth Plan Fuels Rally
Sterlite Technologies makes products and services used to build digital networks.
Its share price has risen very sharply this year.
The company recently told investors that it wants to grow much larger by FY29.
It is targeting Rs 20,000 crore in revenue and an EBITDA margin above 27%.
To support this growth, the company approved Rs 3,000 crore to expand a manufacturing facility.
The expansion is expected to increase production capacity by about 50%.
Nuvama believes the company’s plans could improve its profits and raised its price target to Rs 1,100.
However, the stock has also been described as highly volatile because its beta is 1.37.
Sterlite Technologies shares have gained 707% in 2026 and 356% over the past six months.
The stock hit its third upper circuit today, lifting the company’s market capitalization to Rs 42,500 crore.
The company’s FY29 Lakshya roadmap targets Rs 20,000 crore in revenue and an EBITDA margin above 27%.
Sterlite Technologies approved Rs 3,000 crore in capex to expand existing manufacturing capacity by about 50% by the end of FY29.
Nuvama raised its price target from Rs 770 to Rs 1,100, maintained a buy rating, and increased its FY27 and FY28 EBITDA estimates.
- Who
- Sterlite Technologies and Nuvama analysts.
- What
- Sterlite Technologies shares rallied sharply after the company announced FY29 growth targets and a manufacturing expansion plan.
- When
- The investor meeting took place last week; the stock has gained 707% in 2026, and the expansion is targeted for completion by the end of FY29.
- Where
- At Sterlite Technologies’ existing manufacturing facility.
- Why
- Investors reacted to the company’s revenue, profitability, and capacity-expansion plans under its Lakshya roadmap.
- 2026 share-price gain
- 707%
- Six-month share-price gain
- 356%
- Market capitalization
- Rs 42,500 crore
- FY29 revenue target
- Rs 20,000 crore
- FY29 EBITDA margin target
- More than 27%
- Approved capital expenditure
- Rs 3,000 crore
- Planned capacity increase
- Approximately 50% by the end of FY29