The mutual fund purchased the stake on Friday at an average price of ₹619.07 per share, betting on one of the market’s best-performing stocks this year.
The transaction comes after a remarkable rally in the stock. Shares of Sterlite Technologies have surged nearly 270% in just 43 trading sessions, rising from ₹176 at the end of March to ₹651 at the close on June 4.
The rally has been relentless. Over the last 43 trading sessions, the stock has ended lower on only six occasions, while hitting the 5% upper circuit in 20 sessions.
Sterlite Tech is also coming off an 11-session winning streak, with nine of those sessions ending at the upper circuit limit.
Following the sharp surge since April, the stock has gained over 535% so far in calendar year 2026, marking the strongest annual performance in its listed history. On a trailing 12-month basis, the stock has skyrocketed 766%, having traded around ₹75 in June 2025.
Who owns Sterlite Tech?
Sterlite Technologies is part of the Vedanta Group. Promoter entity Twin Star Overseas is the largest shareholder with a 42.9% stake.
Vedanta also owns a 0.98% stake in the company, according to the March quarter shareholding pattern. At Thursday’s closing price, that holding was valued at approximately ₹310 crore.
Among institutional investors, domestic mutual funds collectively own 7.41% of the company. The largest holders are Bandhan Value Fund with a 4.97% stake and HDFC Dividend Yield Fund with 2.05%.
Life Insurance Corporation of India holds a 1.17% stake, currently valued at around ₹372 crore, while BNP Paribas Financial Markets owns 1.33%.
Retail participation is also significant. More than two lakh shareholders holding shares worth up to ₹2 lakh collectively own 18.58% of the company, while investors with holdings above ₹2 lakh account for another 6.9%.
Stock under strict ASM surveillance
The unprecedented rally has led to Sterlite Technologies being placed under the Long-term Additional Surveillance Measure (ASM) framework. The stock is currently under Stage IV, the highest level of surveillance.
Under Stage IV, trades are settled only on a gross basis and investors must provide 100% upfront margin. The stock remains subject to a 5% price band, while intraday trading and same-day square-offs are not permitted. Delivery is mandatory for all trades, and no leverage or margin funding facilities are available.
Despite the strong rally, Sterlite Technologies shares ended Friday’s session 5% lower at ₹619.05. Even after the decline, the stock remains up more than 500% in 2026.
