Mumbai: Steelman Telecom, a prominent player in the telecom infrastructure sector, saw its shares hit the 20% upper circuit limit on the stock exchanges today after announcing the securing of a major ₹147 crore contract from Reliance Jio. This significant deal has boosted investor sentiment, driving the stock to new heights.
The contract, which involves providing telecom infrastructure and services to Reliance Jio, is expected to bolster Steelman Telecom’s revenue stream and further strengthen its position in the competitive telecom sector. The company will utilize the funds from the contract to enhance its operational capabilities and accelerate growth.
Steelman Telecom’s stock surged on the news, with trading volumes rising sharply, as investors reacted positively to the announcement. Analysts have expressed optimism about the company’s future prospects, citing the deal with Reliance Jio as a testament to Steelman Telecom's growing reputation and capabilities in the industry.
The partnership is expected to bring long-term benefits, as Reliance Jio continues to expand its 5G network and telecom infrastructure across India. Steelman Telecom, with its extensive experience in the telecom space, is poised to play a key role in this expansion.
This contract comes as a boost to Steelman Telecom, which has been gaining traction in recent years, and is expected to positively impact its financial performance in the coming quarters.
Investors are closely watching the stock, as further developments on this high-value contract could drive the company’s growth trajectory