Sterlite Tech shares hit 5% upper circuit as firm targets ₹20,000 crore revenue by FY29 amid booming AI demand

Shares of Sterlite Technologies were locked in a 5% upper circuit of ₹750 on the BSE on Friday after the company outlined its long-term growth plans, including a target of becoming one of the top five players globally in optical connectivity solutions and achieving revenue of ₹20,000 crore by FY29.

The company identified optical TAM expansion, customer co-development, integrated connectivity solutions and tech-led differentiation as key growth drivers. Sterlite Technologies also plans to expand its capacity to 1.5 times to support the next phase of growth.