Sterlite Tech up following JV with leading Japanese company

Sterlite Tech up 2% following JV agreement with VISCaS, a Japanese company specialising in transmission solutions.

Sterlite Technologies has surged 2% following the announcement of a Joint-Venture agreement with VISCAS Corporation, a leading Japanese company on September, 29 2014.

This venture is an important milestone in sustaining Sterlite’s leadership in power transmission & distribution sector with an objective of addressing the growing extra high voltage underground power cabling requirements in India.

“This partnership has the potential to attain leadership in the HV/EHV Cables market in India innext 2-3 years," said  Mr. Pravin Agarwal, Whole-Time Director, Sterlite Technologies Limited.

The stocks opened at Rs 68 and has reached a high of Rs 69.90, so far. Around 470,000 shares have changed hands on BSE and NSE combined so far.