 "ITI hits over 9-year high as turnover touches six year high in FY17")
ITI gained 8% to Rs 81, its highest level since January 8, 2008 on BSE, after the company said it has reported 30% year on year growth in consolidated turnover of Rs 1,621 crore for the financial year 2016-17 (FY17). The turnover was highest in past six years.
“Recently, the company has bagged various orders from BSNL, BBNL and will getting from RailTel for supply of GPON equipment for Government of India’s flagship project “BharatNet”, which is providing broadband facility to over 2.5 lacs village panchayats in India,” ITI said in a press release.
The company in the coming future is also expecting orders from mega projects like ASCON from defense and GSM project of North Eastern region from BSNL. The company also plans to explore business opportunities in the IoT, e-Governance, ICT areas in addition to telecommunication and defense projects, it added.
The trading volumes on the counter surged more than five-fold with a combined 7.69 million shares changed hands on NSE and BSE till 02:52 pm. The stock was rallied 6% on Wednesday.
“Recently, the company has bagged various orders from BSNL, BBNL and will getting from RailTel for supply of GPON equipment for Government of India’s flagship project “BharatNet”, which is providing broadband facility to over 2.5 lacs village panchayats in India,” ITI said in a press release.
The company in the coming future is also expecting orders from mega projects like ASCON from defense and GSM project of North Eastern region from BSNL. The company also plans to explore business opportunities in the IoT, e-Governance, ICT areas in addition to telecommunication and defense projects, it added.
The trading volumes on the counter surged more than five-fold with a combined 7.69 million shares changed hands on NSE and BSE till 02:52 pm. The stock was rallied 6% on Wednesday.
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