New Delhi, Oct. 30 -- Sterlite Technologies (STL) shares were locked in a 5% lower circuit at Rs.827.60 on Friday, October 30, extending their losses to a third consecutive session. The stock has fallen around 9% in three sessions, despite reporting a sharp jump in second-quarter earnings and securing large orders linked to artificial intelligence (AI) infrastructure.

The recent decline followed a 14% rally over three sessions, suggesting that investors may be booking profits after the stock's strong run-up. However, the company's substantial gains over the past year, ambitious growth targets and elevated expectations have also kept the focus on its valuation and execution.

Profit booking is a key factor behind the recent decline. Sterl...