New Delhi, Sept. 30 -- Shares of STL Networks, and its and its erstwhile parent, Sterlite Technologies rallied nearly 5% to touch upper circuit on Wednesday, September 30. The sharp rally in the two telecom sector stocks came amid investors optimism around recent order wins. STL Networks emerged as the lowest bidder for a contract from Railtel Corporation of India.

Hyperscaler orders, record earnings and aggressive targets for the coming years are likely driving bullish sentiment around Sterlite Technologies Limited. The stock has delivered close to 415% return in six months.

The fresh rally in STL Networks stock came, a day after the company announced that it emerged as the lowest bidder from RailTel Corporation of India Limited for a ...