 "ITI, Orchid Pharma zoom over 35% in two days in weak market")
Shares of ITI and Orchid Pharma rallied up to 19% for the second straight day in an otherwise weak market on the back of positive corporate announcements.
ITI has surged 19% to Rs 146, extending its Thursday’s 20% rally on the National Stock Exchange (NSE), after the company announced that it has won Rs 7,000 crore-phase IV tender of Army (Army Static Switched Communication Network-ASCON) for deploying and maintaining its strategic communication network across the country.
The project includes civil works for providing the complete infrastructure required at various sites and optical fiber network besides supply, installation, commissioning and maintenance of telecom equipment like IP/MPLS Routers, Microwave Radio, Satellite Terminals, NMS,Mobile Nodes and Test Equipment, the company said in a release.
ITI currently has an order on hand of Rs 1,800 crore and is targeting Rs 10,000 crore worth of deals within the next 3-4 years, including the ASCON Phase IV project.
The counter has seen an over five-fold jump in trading volumes with a combined 19.59 million shares changed hands on the NSE and BSE.
Orchid Pharma soared 16% to Rs 25, after yesterday’s 20% gain as the company received an establishment inspection report (EIR) from U.S. Food and Drug Administration (US-FDA) on the successful inspection of the active pharmaceutical (API) manufacturing facility in Tamil Nadu. This facility was inspected by USFDA in May 2017.
A combined 7.43 million shares changed hands so far, against an average sub one million shares were traded daily in past two weeks on BSE and NSE.
ITI has surged 19% to Rs 146, extending its Thursday’s 20% rally on the National Stock Exchange (NSE), after the company announced that it has won Rs 7,000 crore-phase IV tender of Army (Army Static Switched Communication Network-ASCON) for deploying and maintaining its strategic communication network across the country.
The project includes civil works for providing the complete infrastructure required at various sites and optical fiber network besides supply, installation, commissioning and maintenance of telecom equipment like IP/MPLS Routers, Microwave Radio, Satellite Terminals, NMS,Mobile Nodes and Test Equipment, the company said in a release.
ITI currently has an order on hand of Rs 1,800 crore and is targeting Rs 10,000 crore worth of deals within the next 3-4 years, including the ASCON Phase IV project.
The counter has seen an over five-fold jump in trading volumes with a combined 19.59 million shares changed hands on the NSE and BSE.
Orchid Pharma soared 16% to Rs 25, after yesterday’s 20% gain as the company received an establishment inspection report (EIR) from U.S. Food and Drug Administration (US-FDA) on the successful inspection of the active pharmaceutical (API) manufacturing facility in Tamil Nadu. This facility was inspected by USFDA in May 2017.
A combined 7.43 million shares changed hands so far, against an average sub one million shares were traded daily in past two weeks on BSE and NSE.
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