Sterlite Tech Share Price Surges to 52-Week High After Green Hydrogen Pact

Market Performance

Sterlite Tech share price continued its rally for the second straight day on July 17, climbing up to 7% to reach a new 52-week high of ₹122 per share.

• The rally follows the announcement of a green hydrogen collaboration with Hygenco.
• Over the last 3 months, Sterlite Technologies has gained nearly 47%, sharply outperforming the Nifty 50, which has risen only 5% in the same period.

Main News: Strategic Pact With Hygenco

Sterlite Technologies recently signed a significant partnership with Hygenco to establish Maharashtra's first green hydrogen production facility dedicated to optical fibre manufacturing.

• The facility is being set up in Chhatrapati Sambhaji Nagar, Maharashtra.
• It will cater to Sterlite Tech's glass preform facility, supplying green hydrogen and oxygen.
• Hygenco will build, own, and operate the plant, ensuring an uninterrupted supply for the next 20 years.

This marks a significant step toward industrial decarbonization and sustainable manufacturing.

Company Details

Sterlite Technologies Limited is a major player in the telecom equipment space, particularly in optical fibre manufacturing. The company is now leading in sustainable production, integrating renewable energy into its core operations.

• With the latest partnership, STL aims to become one of the world's first optical fibre manufacturers to use 100% green hydrogen in production.
• This move aligns with the company's larger mission to achieve net-zero emissions by 2030.

According to Rahul Puri, CEO of STL's Optical Networking Business, this shift "sets a new global benchmark for decarbonisation in the optical fibre industry."

Summary of the Article

Sterlite Tech's share price has seen a sharp surge, hitting ₹122, a new 52-week high, driven by a path-breaking agreement with Hygenco. The collaboration aims to introduce green hydrogen in optical fibre manufacturing, positioning Sterlite as a pioneer in clean energy usage within the telecom equipment sector.

With a 47% gain in the last 3 months, the stock has significantly outpaced broader market indices. The long-term hydrogen supply commitment from Hygenco reflects a robust step toward sustainable industrial practices.