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ITI expects to sign Rs 7,796 crore contract soon

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ITI said that ASCON working group is expected to sign a contract for its ASCON Phase IV Project with the company shortly and value of the bid is approximately Rs 7,796 crore.

ITI said that ASCON working group, Integrated HQ of MoD (Army), has communicated to the Company that necessary approval for project has been obtained and the contract is expected to be signed very shortly. The value of the bid is approximately Rs 7796 crore (including taxes).

Shares of ITI rose 12.34% to Rs settle at 134.65 yesterday. The announcement was made after market hours yesterday, 10 September 2020.

State-run ITI offers complete range of telecom products and total solutions covering the whole spectrum of Switching, Transmission, Access and Subscriber Premises equipment.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, September 11 2020. 09:07 IST