Shares of Sterlite Technologies are set for a significant upside, according to global brokerage CLSA. The global optical and digital solutions company has received an outperform call from CLSA. The brokerage has raised its target price to Rs 655 against the earlier target price of Rs 405. The brokerage is bullish on $1 billion order (Rs 10,000 crore) from US hyperscaler. The firm on Friday said its subsidiary has received a Product Award Letter (PAL) from a hyperscale partner for a multi-year supply of optical connectivity products. It covers optical connectivity product supply across financial years FY27 to FY29, with purchase orders to be released periodically during the contract period.

The brokerage believes the order could place the company to deliver a 49% EBITDA CAGR over the coming years.

The brokerage mentioned this as a win for Sterlite Technologies' AI DC optical products. This is part of the multi-year data centre boom in North America and India.

Sterlite Technologies share price ended 5% higher at a record high of Rs 441.40 on Friday compared to the previous close of Rs 420.40. Market cap of the firm rose to Rs 21,456 crore. 

Sterlite Technologies share price has risen 544% during the last one year and gained 351.74% in two years.

The stock has a RSI of 81.2, signalling more buyers than sellers for the share on bourses. The stock is trading above its 10 day, 20-day, 30 day, 50-day, 100-day and 200-day moving averages, which signals a strong uptrend. The stock has a beta of 1.56, indicating high volatility in a year.

Sterlite Technologies is a global technology company. The company is engaged in designing, building and managing smarter digital networks. Its digital networks focused business products, services and software includes optical communication products, network and system integration services and operations support systems (OSS)/business support system (BSS) software solutions. It operates in six continents and more than 100 countries.