Hot Stock: This telecom company wins accolades from ISRO and DoT for its role in the successful launch of Chandrayaan - 3

Since its listing on January 1, 1999, the stock has generated returns of over 900 per cent.

ITI Limited received recognition from both ISRO (Indian Space Research Organisation) and the Department of Telecommunications for its crucial role in the successful launch of Chandrayaan-3 (LVM3-M4). The mission, India's third moon mission, was launched from the Satish Dhawan Space Centre in Sriharikota at 2.35 pm on July 14. ITI Limited manufactured 55 packages on the flight vehicle, meeting ISRO's stringent quality standards.

The mission utilized a Mark-3 (LVM-3) rocket, resulting in a perfect and successful launch. Only the U.S., Russia, and China had previously achieved soft landings on the moon, making this accomplishment remarkable. Prime Minister Narendra Modi and Minister of State Jitendra Singh praised ISRO for its achievement in the mission.

Appreciating ITI’s role in the mission, Ms. Sheena Abraham Group Director of Electronics Production Group, ESAE (ISRO - Electronics Systems Actuators Entity) said - “We would like to convey our deepest appreciation to all the team members in your organization who have worked hard for the realization of these packages. We will strive together for more successes in future also.”

Mr K. Rajaraman, Secretary, DoT under whom the CPSU ITI Limited operates said – “DOT celebrates the successful launch of Chandrayaan3, India's lunar mission and congratulates ITI Limited whose various fabricated packages have flown in the mission. We at DOT are very proud to be a part of ISRO's successful efforts of pushing boundaries of space exploration.”

Speaking on this momentous occasion, Mr Rajesh Rai, Chairman and Managing Director of ITI Limited said, “ITI Limited is overwhelmed to be part of the prestigious Lunar Mission which marks a historic achievement in the national space programme. It gives me immense pride to state that ITI has contributed its distinct engineering prowess, manufacturing expertise and skilled workforce to help this mission. The Space sector is opening up for the Indian Industry and we will leverage this long association with ISRO to carve a bigger role in Space Programmes of the future."

Today, shares of ITI Ltd surged 2.22 per cent to Rs 110.55 per share, compared to the previous closing of Rs 108.15. The intraday high was Rs 113, while the intraday low was Rs 109.75.

Over the past decade, the stock has provided multibagger returns of 590 per cent. Since its listing on January 1, 1999, the stock has generated returns of over 900 per cent. Investors should keep an eye on this Mid-Cap telecom stock.

Disclaimer: The article is for informational purposes only and not investment advice.