ITI has soared nearly 11% to Rs 43.30, extending its past one week rally, after the company said it has bagged two advance purchase orders from BSNL amounting to Rs 2,984 crore. The stock is trading at its highest level since December 2010.
On July 1, ITI said, the orders are part of Network For Spectrum (NFS) project for establishment of Optical Fibre Network throughout the country.
These are the first major orders received after the approval of the revival package of ITI by Cabinet Committee on Economic Affairs and will open the doors for turning around the company, ITI said in a press release.
In past six trading sessions, the stock has rallied 56% from Rs 27.80 compared to 2.7% rise in benchmark S&P BSE Sensex.
The counter has seen huge trading activity with a combined 2.54 million shares changing hands in first half-and-hour of trading on BSE and NSE.
On July 1, ITI said, the orders are part of Network For Spectrum (NFS) project for establishment of Optical Fibre Network throughout the country.
These are the first major orders received after the approval of the revival package of ITI by Cabinet Committee on Economic Affairs and will open the doors for turning around the company, ITI said in a press release.
In past six trading sessions, the stock has rallied 56% from Rs 27.80 compared to 2.7% rise in benchmark S&P BSE Sensex.
The counter has seen huge trading activity with a combined 2.54 million shares changing hands in first half-and-hour of trading on BSE and NSE.
