Shares of HFCL and Sterlite Technologies rose as much as 5 percent on Friday. The gains reversed a two-day decline amid a broader recovery in global technology stocks.
The rebound was linked to India's expanding data center sector. Growth in the industry is supported by digitalization trends and rising demand for Artificial Intelligence applications.
HFCL and Sterlite Technologies are both major producers of optical fiber cables. Analysts have kept positive views on the companies' prospects for continued expansion.
The moves occurred after two days of losses for the stocks. No specific price targets or additional company statements were included in the reports.
