FIIs triple stake in Sterlite Tech after a stellar 400% surge this year. More legs to the rally?

Sterlite Technologies saw FIIs nearly triple their stake from 6.7% in June 2025 to 19.7% as of July 1, 2026, with the stock surging about 415% YTD. CLSA upgraded the stock to Outperform with a Rs 950 target price (70% upside), citing a 155% QoQ order book jump to Rs 18,600 crore and a strong Q1 FY27 performance where revenue rose 87% YoY to Rs 1,910 crore and PAT jumped 870% to Rs 197 crore, driven by AI data centre and optical fibre demand.