ITI jumped 7.09% to Rs 112.25 at 15:18 IST on BSE after the company announced signing a contract with Gujarat Fibre Grid Network for implementing BharatNet Phase II project in Gujarat.
The announcement was made on Saturday, 19 January 2019.Meanwhile, the S&P BSE Sensex was up 176.44 points or 0.48% at 36,563.05
On BSE, so far 9.93 lakh shares were traded in the counter as against the average daily volumes of 5.39 lakh shares in the past two weeks. The stock hit a high of Rs 114.80 and a low of Rs 107.40 so far during the day.
ITI has signed a contract with Gujarat Fibre Grid Network (GFGNL) for implementing BharatNet Phase II project in one of the two packages in Gujarat. The purchase order from GFGNL is valued at Rs 1011.41 crore towards the capex part of the project, to be completed in a period of one year and Rs 190.04 crore towards operation and maintenance of the network for three years after the implementation of the project.
ITI offers a complete range of telecom products and total solutions covering the whole spectrum of switching, transmission, access and subscriber premises equipment.
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