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Sterlite Tech surges over 8% on Nuvama Buy call and margin boost from tariff cutsSterlite Tech shares jumped as Nuvama kept Buy with ₹200 target, citing relief from US tariff cuts and growth in North America. Q3 revenue rose but margin remained under pressured.By Gareema Bangad  February 9, 2026, 12:28:51 PM IST (Published)2 Min ReadSterlite Technologies shares rallied over 8% on Monday, February 9, after Nuvama reiterated its Buy rating and maintained a target price of ₹200, citing improving growth momentum and an easing tariff environment.

Nuvama said Sterlite Tech saw a sharp pickup in revenue growth in Q3, although margin remained under pressure due to tariff-related uncertainties. The brokerage expects the margin to improve following the US decision to lower reciprocal tariffs on Indian exports from 25% to 18%, along with the removal of the additional punitive 25% tariff, which it believes will be margin-accretive.

The brokerage expects growth momentum to sustain, particularly in North America, supported by a recovery in demand from telecom operators and hyperscalers, easing trade conditions, Sterlite Tech’s local manufacturing footprint, and a sharper focus on its data centre portfolio.

As per Bloomberg consensus data, Sterlite Tech has a consensus rating of 4.33, with 66.7% of analysts recommending ‘Buy’ and the remaining 33.3% maintaining a ‘Hold’. The consensus 12-month target price stands at ₹155.5, implying an upside of around 11% from the last traded price of ₹140.3.

Among brokerages tracking the stock, Nuvama currently has the highest target price at ₹200, while other bullish calls include Maybank Investment Banking with a target of ₹215 and Equirus Securities at ₹226.

The stock has delivered a one-year return of nearly 80%.

Sterlite Tech reported a net loss of ₹17 crore in Q3FY26, compared with a net loss of ₹24 crore in the corresponding period last year. EBITDA rose 16.2% year-on-year to ₹129 crore from ₹111 crore a year earlier. EBITDA margin contracted 80 basis points year-on-year to 10.3% from 11.1% in the year-ago period.

Shares of the company hit intraday highs of ₹143.70 in early trade on Monday, but have since pared some of their gains and are currently trading 4.72% up at ₹138.80.Continue Reading(Edited by : Anshul)Tagsbrokerage firmsNuvamashare market todaySterlite Technologies