Shares of India’s first post-independence PSU rose as much as 4% after ITI Restricted, a number one telecom producer, secured contracts value Rs 88 crore in Odisha and Chhattisgarh for CCTV programs, GIS mapping, and IT infrastructure upgrades.
With a market capitalization of Rs 31,166 Crores, the share worth of ITI Restricted was buying and selling nearly 4% as much as hit an intraday excessive of Rs 336.00 per share from its day low worth of Rs 323.25 per share.
ITI Restricted, in its change submitting, introduced that it has secured a number of contracts value Rs 88 crore throughout Odisha and Chhattisgarh, strengthening its order ebook and increasing its footprint in public sector infrastructure initiatives.
The corporate obtained a Rs 54 crore contract from Cuttack Growth Authority for putting in CCTV surveillance and site visitors sign programs, together with a Rs 23.05 crore GIS-based Land Intelligence Administration System order.
Moreover, it bagged an Rs 11.72 crore contract from Chhattisgarh’s CHiPS to improve WLAN/LAN infrastructure at Mantralaya and HoD Bhawan at Nava Raipur in Chhattisgarh.
Mr. Rajesh Rai, Chairman and Managing Director, ITI Restricted, stated “We’re very glad to bag these new contracts from Governments of Odisha and Chhattisgarh, the place we will probably be concerned in aiding the state Governments in strengthening their digital infrastructure for offering environment friendly citizen companies.
With immense pleasure, I want to state that ITI Restricted is now seen as a dependable associate by the state Governments to offer the entire spectrum of Info and Communications Expertise (ICT) companies to strengthen their e-governance initiatives.”
Our group could be very excited and extremely motivated to work on these contracts as all the time, and I’m assured that we’ll ship them forward of time. We hope that our work will assist the state Governments in offering best-in-class e-governance companies.”
ITI Restricted is a government-owned telecom know-how firm established in 1948. It has manufacturing models in Bengaluru, Naini, Rae Bareli, Mankapur, and Palakkad, together with an R&D centre in Bengaluru and advertising workplaces throughout main Indian cities.
The corporate makes a variety of telecom and protection merchandise resembling optical networks, encryption units, good vitality meters, and Wi-Fi tools. ITI additionally handles turnkey telecom initiatives and is increasing into areas like IoT, good cities, and cloud companies via its Bengaluru knowledge heart.
The corporate reported a income of Rs 3,616 crore in FY25, up by 186 p.c from its FY24 income of Rs 1,264 crore. Coming to its profitability, the corporate narrowed its internet loss by 62% to Rs 215 crores in FY25 from Rs 569 Crores In FY24.
Written By Rohan Pandey
