Shares of STL Networks, which recently debuted on the Indian stock market following its strategic demerger from Sterlite Technologies (STL), have emerged among the top performers this week, with shares rallying 34%, moving from ₹22 to ₹29.33 apiece.
Investor sentiment was boosted after the company secured a major contract worth over ₹360 crore from PowerGrid Teleservices Limited (PowerTel), a wholly owned subsidiary of the Power Grid Corporation of India Limited (PGCIL), the nation’s largest electric power transmission utility.
Under the agreement, the company stated that Invenia, the brand of STL Networks, will design, build, commission, and maintain the complete IT and cloud infrastructure for a greenfield Tier III data center at PowerGrid’s Manesar facility, as per the company’s September 15 regulatory filing.
In addition, the company said Invenia will establish a Disaster Recovery Data Centre (DRDC) and deliver a scalable Infrastructure as a Service (IaaS) solution complemented by Disaster Recovery Services. This transformative project encompasses comprehensive Operation & Maintenance (O&M), ensuring the long-term performance and operational readiness of the data center.
About STL Networks
The company provides advanced digital infrastructure and IT services, enabling telecom operators, government, defense, citizen networks, and large enterprises across India and the UK. Its services include connectivity solutions, system integration (network, data center, cloud, and cybersecurity), managed services, and AI-enabled solutions.
Over the past decade, STL Networks has been instrumental in India’s digital infrastructure growth, deploying over 1.35 lakh km of optical fibre networks across 23 states.
Following its demerger from Sterlite Technologies, the company aims to strengthen its digital infrastructure and services portfolio, catering to enterprises, telecom operators, cloud service providers, and government projects.
Notably, the ₹2,600 crore BharatNet project in Jammu and Kashmir will now be part of STL Networks, reinforcing its role in large-scale digital transformation initiatives.
In its financial results for the year ending March 31, 2025, STL Networks-Invenia reported revenue of ₹1,180 crore, an EBITDA of ₹81 crore, and a strong open order book of over ₹4,249 crore.
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