Sterlite Tech, an end-to-end global technology leader in smarter digital networks, on the occasion of the second anniversary of the Smart Cities Mission, announced the company's selection for the implementation of Smart City solutions in Kakinada, Andhra Pradesh, India.

Kakinada was chosen among the first 20 cities in the first phase of the Smart City Mission. The project aims to bring transformational changes in the everyday living experiences of over 3.25 lakh citizens of Kakinada, through real-time governance and efficient delivery of citizen services. As part of the project, Sterlite Tech will design, build and manage the Kakinada Smart City for the next six years.

Shares of the company declined Rs 4.65, or 3.08%, to settle at Rs 146.25. The total volume of shares traded was 112,680 at the BSE (Friday).