Sterlite Technologies zooms 57% in three days after strong Q1 results

The stock hit a new high of Rs 248, zoomed 57% from Rs 158 on July 18, against 1% gain in Nifty 50.

Sterlite Technologies hit a new high of Rs 248, up 20% on the National Stock Exchange (NSE), extending its two-session long rally of over 30% after  the company said it reported its highest ever quarterly revenues driven by strong order book and export sales in June quarter (Q1FY18).

In the last three trading sessions, the stock of the telecom services provider zoomed 57% from Rs 158 on July 18, as compared to 1% rise in Nifty 50 index.

The trading volumes on the counter jumped more than four-fold with a combined 19.52 million equity shares exchanging hands on