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ITI surges on emerging lowest bidder for Rs 3200 crore project

05 Apr 2018 Evaluate

ITI is currently trading at Rs. 127.25, up by 1.55 points or 1.23% from its previous closing of Rs. 125.70 on the BSE.

The scrip opened at Rs. 129.20 and has touched a high and low of Rs. 131.30 and Rs. 124.90 respectively. So far 202651 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 164.90 on 26-Oct-2017 and a 52 week low of Rs. 68.65 on 06-Apr-2017.

Last one week high and low of the scrip stood at Rs. 131.30 and Rs. 113.00 respectively. The current market cap of the company is Rs. 9617.80 crore.

The promoters holding in the company stood at 92.63%, while Institutions and Non-Institutions held 4.74% and 2.64% respectively.

ITI has been declared as L1 (lowest) bidder in the ‘MAHANET tender of Maharashtra State for connecting Gram Panchayats to block level through fibre under Bharat Net Phase II Project’. The value of the tender is approximately Rs 3200 crore.

ITI offers products and services in the telecom sector. The company has a range of telecom products and total solutions covering the whole spectrum of switching, transmission, access and subscriber premises equipment.

Peers
Company Name CMP
Black Box 765.70
ITI 255.40
Tejas Networks 524.70
Quadrant Televenture 0.76
Valiant Communicatns 1259.90
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