ITI Limited receives order worth Rs. 334 crore

RajCOMP Info Services, a Govt of Rajasthan Undertaking has awarded a Letter Of Intent (LoI) to ITI Limited to execute RajNet project.

The project would require the company to establish 40,000 outdoor Wi-Fi access points in the state of Rajasthan. The order is approximately valued at Rs. 334 crore. The company would be responsible for the supply, installation as well as for the maintenance of outdoor Wi-Fi access points along with associated RF Radio equipment in a period of six months, followed by operation and maintenance of the network for a duration of five years.

ITI Limited is engaged in manufacturing, trading and servicing of telecommunication equipment, and rendering other associated and ancillary services. The company focuses on offering telephone communication services. It offers a range of telecom products and solutions, including switching, transmission, access and subscriber premises equipment. The company's services include installation and commissioning of microwave, optical fiber and other equipment.

On Friday, the shares of ITI opened a little higher at Rs. 83 per share on the BSE versus Thursday’s close of Rs 81.75 Its intraday high was Rs 381.90 and intraday low was Rs. 375.50 per share on the BSE. Its 52-week high was Rs. 515 and its 52-week low was at Rs. 332 on the BSE. The share closed at Rs 83.20 per share, up by 1.77 per cent.

The BSE Sensex closed at 34,733.58 level, up by 2.15 per cent or 732.43 points.