CLSA hikes Sterlite Tech share price target by 47%; maintains Outperform call on stock that’s up 775% YTD

Sterlite Tech shares gained 2% after CLSA raised its target price by 47% to Rs 1,400, implying a 55.55% upside, while retaining its Outperform rating. The brokerage expects the company’s capacity to expand 50% by FY29, backed by Rs 3,000 crore of approved capex. Revenue is projected to reach Rs 20,000 crore, driven by AI data centres and hyperscalers.