Shares of ITI Ltd rallied 5%, hitting an intraday high of Rs 254.40 on 9 April after the company announced that it had begun work on the State Network Operations Center (S-NOC) of the massive BharatNet Phase-III Project in Solan, Himachal Pradesh, in collaboration with BSNL.

In its regulatory filing, the company said, “S-NOC is a centralised location where ITI Limited will monitor and manage the performance, security, and availability of the project’s network infrastructure, ensuring efficient delivery of services.”

Moreover, the company was awarded lowest bidder (L1) status for the BharatNet Phase-III Project in the Andaman & Nicobar Islands, West Bengal, and Himachal Pradesh, with a total order value of Rs 5,050 crore.

ITI is a significant source of electronic manufacturing, specifically defence electronics goods and systems. The company provides a comprehensive variety of telecom products and solutions, including Switching, Transmission, Access, and Subscriber Premises equipment.  

The company operates cutting-edge manufacturing facilities in six locations: Bangalore (Karnataka), Mankapur (UP), Naini (UP), Rae Bareli (UP), Palakkad (Kerala), and Srinagar (J&K). 

Revenue for the company increased 1.08% to Rs 1,034.54 crore in Q3FY25 from Rs 1,016.20 crore in Q2FY25. The company’s net loss decreased from Rs 70.33 crore in Q2FY25 to Rs 48.88 crore during the quarter.

At 1:33 pm, the shares of ITI were trading 4.82% higher at Rs 254 on NSE.

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