Shares of ITI Limited hit 5% upper circuit after the company clinched a big-ticket contract under the government’s ambitious BharatNet Phase-3 project.
The company has signed a ₹1,901 crore agreement with BSNL, which is acting on behalf of the Universal Service Obligation Fund (USOF). Under this deal, ITI will roll out telecom infrastructure in the North Eastern Region II—covering Arunachal Pradesh, Nagaland, and Manipur—as the official Project Implementing Agency.
Out of the total contract value, ₹1,168 crore will go towards capital expenditure, ₹700.84 crore will be used for operating the new network, and ₹32.21 crore is earmarked for maintaining the existing infrastructure.
This isn’t ITI’s only win under BharatNet Phase-3. The company had earlier bagged two more packages—one for Himachal Pradesh and another covering West Bengal and the Andaman & Nicobar Islands—worth a combined ₹5,055 crore. With the latest addition, ITI’s total order book under the project has now swelled to a whopping ₹6,956 crore.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
