ITI Group

A high-level committee has outlined the framework for the transfer of surplus land and buildings of telecom PSUs BSNL, MTNL and ITI to central government organisations without auction. The proposal was cleared at a meeting of Committee of Secretaries in June, which also decided that any central government organisation keen on acquiring any such property would be required to submit their interest, along with stipulated approvals and a deposit (2 per cent earnest money deposit) of the indicative value to register their claim. This process needs to be completed within 90 days from the notification of the asset on the asset monetisation website. Central government organisations will enjoy the right of first refusal, but after 90 days of notification, Bharat Sanchar Nigam, Mahanagar Telephone Nigam and ITI will be free to dispose of the property to any other non-government buyer. "As per Government policy, surplus land/building assets of PSUs of DoT are being monetised...In a recent ...

According to the fund house, the weak rural demand may remain a headwind this year

After the announcement, ITI shares surged 20 per cent to settle at Rs 149.40 apiece - its upper price band as well as a 52-week high level - on the BSE

The candidates can check and download NCVT MIS ITI scorecard on the official website- ncvtmis.gov.in

The project cost will include investment from the state government as well as from a consortium of 20 companies led by Tata Technologies

MSTC, MMTC, Hindustan Copper, Bharat Electronics, Ircon International, NLC India, Engineers India, BEML, STC India, NBCC, Mishra Dhatu Nigam and Container Corporation were up 4% to 8% on the BSE

The move is a rare instance of a government-owned company failing in its fund raising exercise

The fund house seeks to differentiate itself in the 41-player MF industry