ITI surges over 55% in July on BSNL orders

MUMBAI: Shares of ITI have surged over 55 per cent since July 1 after the company announced it bagged Rs 2,984 crore from BSNL.

ITI has bagged 2 advance purchase orders, which are part of Network For Spectrum (NFS) project for establishment of Optical Fiber Network through the country.

These are biggest orders ITI has ever got by competing in an open tender. These are the first major orders received after the approval of the revival package of ITI, by Cabinet Committee on Economic Affairs.

At 10:50 a.m.; the stock was at Rs 42.50, up 8.83 per cent, on the BSE. It surged over 55 per cent since June 30 closing price of Rs 27.80 to intra-day high of Rs 43.30 today.