ITI hits 52-wk high as govt bars BSNL, MTNL from using Chinese 4G equipment

Besides the state-owned telcos, government may ask private players to stay away from such Chinese firms.

Shares of state-owned telecom equipment company ITI jumped 19 per cent and hit a 52-week high of Rs 107.90 on the BSE on Thursday supported by heavy volumes. The trading volumes on the counter jumped an over 6-fold with a combined 9.3 million equity shares changing hands on the NSE and BSE till 09:55 am.

The stock has rallied 32 per cent in the past two trading days after the Department of Telecommunications (DoT) reportedly asked state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam (MTNL) to exclude Chinese gearmakers from supplying 4G telecom equipment. Private telecom operators have been