Sterlite gains on Modi's rural connectivity plans, strong order book

A buy call from CLSA acted as a key trigger

The Sterlite Technologies stock surged 15 per cent on upsides from the government’s broadband connectivity plans, strong order book, and rising opportunities from digital network roll-out.

Led by Sterlite Technologies, cable stocks were up on the back of Prime Minister Narendra Modi’s announcement in his Independence Day speech that every village will get optical fibre connectivity over the next 1,000 days.

While this helped, the bigger trigger, according to experts, was the “buy” call from research firm CLSA. The firm has given a target price Rs 185 on the back of growing services revenues, a strong order book, and compelling