Archive · 6 Oct 2026
Sterlite Technologies Hits Record High as Brokerages Raise Targets
Sterlite Technologies makes products and services used to build digital networks.
Its shares climbed to a record price of Rs 1,046.90.
The company’s market value rose to Rs 53,667 crore.
Nirmal Bang began covering the stock and expects the company’s business to grow.
It forecasts higher revenue and improved profitability in the coming years.
Nuvama also expects the stock to perform well and raised its price target to Rs 1,310.
However, the stock’s RSI was 75.3, a level the article describes as overbought.
The shares were also trading above several moving averages, which the article says signals a strong uptrend.
Sterlite Technologies shares rose 5% to a record Rs 1,046.90, up from the previous close of Rs 999.60.
The company’s market capitalisation reached Rs 53,667 crore as the shares crossed Rs 1,000.
The stock gained 454% over six months and was reported to have risen 920% in 2026.
Nirmal Bang initiated coverage, citing potential growth in demand, earnings and higher-margin connectivity products.
Nuvama reiterated its ‘BUY’ rating and raised its September 2027 price target to Rs 1,310 from Rs 1,100.
- Who
- Sterlite Technologies; brokerages Nirmal Bang Institutional Equities and Nuvama
- What
- Sterlite Technologies shares hit a record high as brokerages issued bullish assessments and price targets.
- When
- The article does not give a publication date; it cites forecasts for FY27 to FY29 and a September 2027 target.
- Where
- The shares are discussed in the Indian market; the company operates in more than 100 countries across six continents.
- Why
- The brokerages cited improving demand, earnings recovery and a shift toward higher-margin connectivity products.
Bullish brokerage outlook
Technical caution
Growth outlook versus overbought signal
Bullish brokerage outlook
Nirmal Bang expects demand, earnings recovery and higher-margin products to support growth; Nuvama reiterated ‘BUY’ and raised its price target.
Technical caution
The stock’s RSI of 75.3 is above 70, which the article says indicates it is overbought; it also reports substantial recent share-price gains.
- Record share price
- Rs 1,046.90, up 5% from the previous close of Rs 999.60
- Market capitalisation
- Rs 53,667 crore
- Six-month share gain
- 454%
- RSI
- 75.3; the article describes a reading above 70 as indicating an overbought stock
- Nuvama price target
- Rs 1,310 for September 2027, raised from Rs 1,100
- Nirmal Bang FY27 revenue estimate
- Rs 9,625.6 crore, a projected 103% year-on-year increase
- Projected FY27 EBITDA margin
- 23%, compared with 12.3% in FY26, according to Nirmal Bang