ITI Limited shares jumped over 3% in the morning trade following the announcement of a major win in the BharatNet Phase-3 Project.
Partnering with a consortium, ITI emerged as the lowest bidder for two key packages (No. 8 and No. 9) covering Himachal Pradesh, West Bengal, and the Andaman & Nicobar Islands. The contracts, worth Rs 3,022 crore, represent a significant step forward in India’s digital inclusion efforts.
The BharatNet initiative, driven by the Department of Telecommunications (DoT) and funded by the Universal Service Obligation Fund (USOF), aims to extend high-speed broadband infrastructure to rural India. With BSNL implementing the middle-mile network, BharatNet Phase-3 will deliver 100 Mbps internet to nearly 640,000 villages, bridging the rural-urban digital divide.
As of 9:16 am, ITI shares were trading 3.67% higher at Rs 276.28 on the NSE.
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