ITI surges 7.5%

PSU telecom equipment maker, ITI Ltd, announced that it has received a Rs.7,796 crore order. This is from the Indian Army -  Phase IV Project of Army Static Switched Communication Network (ASCON) for deploying strategic network for secured communication across the country. Apart from the order, it also entails subsequent maintenance for next 10 years.

The project is an IP MPLS-based communication network with microwave radio, satellite and optical fibre network as media. The project includes installation, commissioning and maintenance of telecom equipment like IP/MPLS routers, NMS, mobile nodes, test equipment and civil works for providing the complete infrastructure at various sites and rollout optical fibre network of about 11,000 km.

Following this, the stock opened itself at its intraday high at Rs.134.30, up almost 7.5 times with robust volumes. Its 52-week high is at Rs.151.60 and low at Rs.44.90.