Vedanta’s Multibagger Stock: THIS Optical Fibre Manufacturer Delivered 500% YTD Return | Time To Buy?

Shares of Vedanta Limited-backed Sterlite Technologies saw a sharp rally during Thursday's intraday trading session after the company launched its qualified institutional placement (QIP) to raise funds from stock market investors. The optical fibre cable maker's stock has delivered a 498% return in 2026 so far, as it has seen heightened investor interest due to the AI exuberance.

Sterlite Technologies share price surged nearly 5% to hit upper circuit of Rs 612.75 per share on BSE with a market capitalisation of Rs 29,912.47 crore. The stock had dipped to its intraday low of Rs 601.05 per share.

Sterlite Technologies QIP Floor Price, Other Details

Sterlite Technologies QIP was launched on Thursday after it received approval from the board of directors on Wednesday, June 24. The company has fixed its QIP floor price at Rs 613.69 per equity share. The QIP offer investment at a discount of not more than 5% on the floor price as approved by the shareholders through a special resolution on June 24, 2026. Sterlite Technologies is likely to create a liquidity buffer with the help of fresh capital infusion, which will help the firm in reducing its net debt to profitability ratio.

Sterlite Technologies Share Price Rallies 499% In 2026 So Far: What's Fuelling The Rally?

Apart from Thursday's rally, which coincided with QIP issue, Sterlite Technologies share price has seen heightened investors interest over the past few months. The stock has delivered a whopping 499% return year to date (YTD), as per BSE data on June 25.

The surge in Sterlite Technologies stock is fundamentally fueled by its landmark $1.1 billion US AI data centre contract, which could bring a sharp net profit turnaround, according to Nishchal Jain, Quant Researcher, Share.Market by PhonePe, who pointed out that the stock may see heightened volatility due to its near-term streched valuations.

Sterlite Technologies Share Price Outlook

"While its long-term outlook as a premier global AI infrastructure proxy remains exceptionally robust, its vertically stretched near-term valuations mean investors and traders must brace for high volatility. Traders should treat this as a high-octane momentum play, using the QIP floor as an anchor," stated Jain.

Investors must watch for immediate resistance at Rs 650-Rs 680 per share and immediate support around Rs 580-585 per share. "Long-term investors should avoid chasing the current peak blindly and instead utilize a staggered, buy-on-dips strategy during healthy market pullbacks toward the crucial ₹540 - ₹550 demand zone," added Jain.

Sterlite Technologies Share Price Trend

The stock closed higher on Thursday. Sterlite Technologies scrip hit its 52-week high mark of Rs 684.45 per share on BSE on June 5, 2026. The stock dipped to its 52-week low mark of Rs 84.65 per share on January 27, 2026. Its share price value has surged 498% year to date and 511% in one year. Its return on equity (ROE) stood at 0.08%.

Vedanta Among Key Promoters

Sterlite Tech is owned by Vedanta Group. One of Anil Agarwal-led conglomerate's entities, Twin Star Overseas Limited holds a majority 42.9% stake in Sterlite Tech. Vedanta Limited too has a 0.98% stake in Sterlite Tech, as per CNBC TV 18 report based on the company's March quarter shareholding pattern.