ITI hits over 9-year high as turnover touches six year high in FY17

The stock moved higher by 8% to Rs 81, its highest level since January 8, 2008 on BSE

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.