Here's why this State-owned stock climbed 5% in trade on April 9

ITI shares climbed 4.98 per cent to an intra-day high of ₹254.40 per share on the NSE

Shares of state-owned telecom manufacturing company, ITI, were ruling higher in an otherwise weak market on Wednesday, April 9, 2025. The PSU stock climbed 4.98 per cent to an intra-day high of ₹254.40 per share on the National Stock Exchange (NSE).

 

The uptick in the company’s share price came following the company’s announcement that it has commenced the work for State Network Operations Center (S-NOC) of the monumental BharatNet Phase-III Project at Solan in Himachal Pradesh in coordination with BSNL.

 

“S-NOC is a centralised location where ITI Limited will monitor and manage the performance, security, and availability of the project’s network infrastructure, ensuring efficient delivery of services,” the company said in a release.

 

Notably, the company had emerged as L1 for the BharatNet Phase-III Project in the states of Himachal Pradesh, West Bengal, and Andaman & Nicobar Islands with a total order value of ₹5,050 crore.

 

ITI is the leading provider of electronic manufacturing, i.e., defense electronics products & systems. The company offers a complete range of telecom products and total solutions covering the whole spectrum of Switching Transmission Access and Subscriber Premises equipment. The company has state-of-the-art manufacturing facilities spread across six locations at Bangalore (Karnataka), Naini (UP), Rae Bareli (UP), Mankapur (UP), Palakkad (Kerala), and Srinagar (J&K). ITI has a market capitalisation of ₹24,036.59 crore on the NSE.

 

In Q3FY25, the company's revenue advanced 1.08 per cent to ₹1,034.54 crore from ₹1,016.20 crore reported in Q2FY25. During the quarter, the company's net loss narrowed to ₹48.88 crore from ₹70.33 crore reported in Q2FY25.

 

ITI shares have posted a decline of 33 per cent year-to-date. In comparison, the benchmark Nifty50 has declined 5.57 per cent during the same period.  

 

The PSU stock has a 52-week range of ₹592.70-210.

 

At around 11:32 AM on Wednesday, ITI shares were quoted trading at around ₹250.15 apiece, up 3.24 per cent from its previous close of ₹242.31.

 

At the same time, the benchmarks - Sensex was trading at around 73,889, down 337 points or 0.45 per cent, and Nifty50 traded lower by 117 points or 0.52 per cent at 22,418.