Sterlite Technologies Ltd has received a contract worth Rs 800 crore from Power Finance Corp to build power transmission network in the north eastern part of the country.

The contract under its preview involves construction of two transmission lines that will link the state of Assam with West Bengal and Bihar, according to the company statement on its website today.

The company said that it aims to complete the project in three years and will operate and maintain the infrastructure for 22 years.

Anand Agarwal, the CEO of the company said, "This project provides great scope to diversify into the growing sector of power transmission with many similar opportunities available in the future."

The shares of the company rose Rs 7, or 1.80% and were trading at Rs 402 at 10:22 hrs after touching an intraday high of Rs 410 and an intra day low of Rs 398. On Friday, the shares closed down 1.30% or Rs 5 at Rs 395.

The shares of the company have gained 560% or Rs 340 in the last one year from a low of Rs 59.30 to Rs 402. Long term investors have reaped the benefits of strong rally in equities during the past year.