May 7, 2019 / 4:55 AM / 4 months ago

BUZZ-India's Sterlite Technologies rises; promoters reach deal with lenders to remove pledged shares

** Shares of optical fibre cable maker Sterlite Technologies Ltd climb as much as 6.6 pct to 204.4 rupees - biggest pct gain since March 5

** Promoters have reached an agreement with their lenders to remove pledge of co's shares, co said in a statement here on Monday

** Co expects removal of pledge of shares to get completed by end of July

** About 2 mln shares change hands, compared with the 30-day average of about 3 mln shares

** Stock has estimated PE of 13.68, below sector average of 21.58

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