US court fines Sterlite Technologies $96 mn in trade secrets case

Mumbai: A US court has slapped Vedanta Group-backed optic fibre manufacturer Sterlite Technologies (STL) with damages of $96 million (around Rs 806 crore) for trade-related rights infringements involving Italian rival Prysmian.

STL, in a statement, said it will “aggressively” challenge the verdict. The company, in which mining group Vedanta led by Anil Agarwal holds a 25% stake posted a loss of Rs 82 crore in the first quarter of fiscal 2025, on revenue of Rs 1,140 crore.