Sterlite Tech in the green
By
Research Desk
about 8 years ago
Sterlite Technologies is showing a lot of activity today with some 3 lakh shares being traded in the morning trades. The stock price shot up over 4% intra day to Rs.98.50. Its 52-week high is at Rs.109.90.
Sterlite Grid, the wholly owned subsidiary of Sterlite Tech won Rs.2596 crore order for its ‘Common Transmission System (II)’ Project for generation projects in Odisha.
Sterlite was the lowest bidder – at Rs.140 crore per annum was 10% lower than the nearest competitor. There were six qualified bidders of which three were PSUs. Power Grid reportedly pulled out of the bidding. Adani Transmission and Essel Infra were also amongst the bidders and they had bid at Rs.166 crore per annum and Rs.156 crore per annum respectively.