Sterlite Tech tumbles 7% on profit booking; Co raises Rs 1,000 cr via QIP

Shares of Sterlite Technologies tumbled 7.4 per cent to Rs 131.7 per share on the BSE in Thursday’s intraday trade as investors booked profit post fund raise by the company.

At 10:48 AM, Sterlite Technologies stock price was quoting 6 per cent lower at Rs 134 per share as against 0.05 per cent rise in the benchmark S&P BSE Sensex index.

On Tuesday, April 16, the stock price of Sterlite Technologies had settled 6.7 per cent higher, after surging nearly 9 per cent in the intraday trade, after it informed the exchanges that it has raised Rs 1,000 crore by issuing equity to Qualified Institutional Investors (QIP).