ITI Limited, India’s pioneering public sector telecom manufacturer, saw its shares rise after being declared the Lowest Bidder (L1) for three significant packages under the BharatNet Phase-3 Project. This major initiative aims to enhance rural broadband connectivity across various states, marking a notable achievement for ITI Limited.
As of 9:15 am the shares were trading 4.56% higher at ₹322.91
Key Project Wins
- Package No. 15: ITI, in partnership with a consortium, won the package for Arunachal Pradesh, Nagaland, and Manipur, securing an order valued at ₹1,537 crore.
- Package No. 8: The company emerged as the L1 bidder for this package in Himachal Pradesh.
- Package No. 9: ITI also secured Package No. 9 for West Bengal and the Andaman & Nicobar Islands.
The total order value from these wins in BharatNet Phase-3 amounts to a substantial ₹4,559 crore.
About BharatNet Phase-3 Project
The BharatNet Phase-3 Project, managed by BSNL, aims to enhance broadband connectivity across rural areas in India. The project, divided into 16 packages covering all states and union territories, involves the Design, Supply, Construction, Installation, Upgradation, Operation, and Maintenance of the Middle Mile Network on a Design Build Operate and Maintain (DBOM) model.
This accomplishment strengthens ITI’s position in India’s telecom infrastructure sector and reflects its ongoing commitment to supporting rural connectivity.
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.
