Sterlite Technologies up over 530% as data center stocks surge
Business
Indian companies tied to data centers are having a moment, thanks to the global rush for AI infrastructure.
Sterlite Technologies, HFCL, and MTAR Technologies have seen their stock prices soar: Sterlite alone jumped more than 530% this year after landing a $1.1 billion deal with a major US tech player.
Hyperscale data spending to top $1.2T
A Bloomberg index tracking 28 Indian data center-related firms shot up by $47 billion in value this year, even as the broader Nifty 500 lost ground.
With global spending on hyperscale data centers expected to top $1.2 trillion between 2025 and 2027, investor interest is only growing, especially in companies supplying power and cooling gear like Hitachi Energy India and ABB India.