ITI Share Price Falls 6%; BSE Seeks Response

On December 11, 2024, ITI Share Price (NSE: ITI) traded 6.91% lower at ₹362.95 at 10:00 AM on NSE. The stock had scaled a fresh 52-week high of ₹403.75 yesterday. ITI has given 35.64% returns in the last 5 days.

BSE Seeks ITI’s Response

BSE observed a significant movement in the share price of ITI Limited. In light of this, the exchange has sought relevant information from the company to safeguard investor interests. The company’s response is still awaited.

ITI is under ASM Stage 1, which means that the stock is under additional surveillance due to its unusual price movements or volatility. Stage 1 is the initial level of surveillance measures implemented by stock exchanges like BSE to ensure investor protection and market stability.

Expansion of BharatNet Phase-3 Project

In November, ITI was awarded the lowest bid for three packages of the BharatNet Phase-3 project, totalling ₹4,559 crore.

The project, comprising 16 packages across different states and union territories, was tendered by BSNL.

It involves the design, supply, construction, installation, upgrading, operation, and maintenance of the Middle Mile Network, following a Design, Build, Operate, and Maintain (DBOM) model.

About ITI Ltd

ITI Limited is a public sector undertaking in the telecommunications technology segment The company has a diverse suite of products including manufactured products like Gigabit Passive Optical Network (GPON), and Managed Leased Line Network (MLLN) products. Besides offering telecom turnkey solutions and customised support, ITI has a dedicated Network System Unit for executing turnkey projects for the installation and commissioning of telecommunication networks

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.