The share price of Sterlite Technologies rallied up to 11 percent on Monday after Prime Minister Narendra Modi promised that every village in India will get optical fiber internet in the next 1,000 days.
The stock rose 11 percent to Rs 144.40 on the NSE. However, the shares pared some gains, trading 7.56 percent higher at Rs 140.10, at 11:50 am.
In his Independence Day speech, PM Modi said, “In the last five years, 1.5 lakh gram panchayats in the country have been connected with optical fiber cables. Before 2014, only 5 dozen panchayats in the country were connected with optical fiber. Now, our aim is to connect every village with high-speed internet. This goal will be met in the coming thousand days. In the coming 1,000 days, every village in the country will