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Shares of Sterlite Technologies surged more than 12 per cent to Rs 124.30 on Monday, commanding a total market capitalization of more than Rs 5,000 crore.
The Pune-based optical and digital solutions company is primarily involved in collaboratively developing optical fibre solutions for Vocus, aimed at defined goals like the delivery of high-speed connectivity across Australia.
BSE was the top gainer in the Nifty500 index, soaring 521 percent, followed by IRFC and Suzlon Energy, which skyrocketed 462 percent and 444 percent, respectively.
Nifty on Monday fell 161 points to form a bearish Engulfing pattern on the daily charts to hint at short-term top reversal for the market. The short-term trend of Nifty seems to have turned down and the next lower levels to be watched are around 22,100-22,050 levels.
Sterlite will offer advanced, purpose-engineered optical fiber cable designs and will also supply its flagship opto-bolt product