Shares of ITI speeds up on obtaining an advance purchase order from BSNL worth Rs 3889 crore
The company focuses on offering telephone communication services.
ITI Ltd has received an Advance Purchase Order (APO) from BSNL worth Rs 3889 crore for its 4G rollout. A Reservation Quota (RQ) Order Advance Purchase Order has been issued by BSNL for the West Zone.
The contract's total cost, including AMC for nine years, is Rs 3889 crore. The scope of work comprises planning, engineering, supply, installation, and commissioning as well as ongoing maintenance (AMC) of a 4G mobile network for 23,633 sites in the West Zone of the BSNL Network. The Consortium Partner is TCS, and the Supply Period is 18 to 24 months, with a 12-month warranty. The Purchase Order will be issued by BSNL Circles in the West Zone and is an APO for the complete scope of work. ITI will produce the Radio Access Network (RAN) following the contract.
Share price movement of ITI Limited
Today, the stock opened at Rs 110.51, with a high and low of Rs 113.55 and Rs 109.81. At the time of writing, the stock is trading at Rs 110.48, up by more than 4.30%. The stock has a 52-week high of Rs 129.50 and a 52-week low of Rs 81.
ITI Limited offers a variety of related and ancillary services in addition to producing, trading, and servicing telecommunications equipment. The company's primary business is providing phone communication services. ITI has a dedicated Network System Unit for carrying out turnkey projects for the installation and commissioning of communications networks in addition to providing telecom turnkey solutions and customised support.
With a strong focus on high-growth industry categories, the company plans to invest in and update its technology through the purchase of technology from strategic partners. The business runs a data centre in Bengaluru and is currently developing it to provide cloud-based services to banks, government agencies, and other organisations.
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