Rs 300 crore Solar Street Light Order: PSU Bags Major Contract in Bihar

The PSU Telecom manufacturer has received an order worth Rs 300 crore from the Bihar Renewable Energy Development Authority (BREDA).

ITI Limited announced in a press release that it has received an order worth approximately Rs 300 crore from the Bihar Renewable Energy Development Authority (BREDA) for the supply and installation of 1,00,000 Solar Street Light Systems for the Bihar State Government. This is in addition to the 80,000 solar street light systems the company is currently installing in Bihar for BREDA.

ITI’s Naini Plant, which has been manufacturing solar panels for the past six years, has received the order for the supply and installation of 1,00,000 Solar Street Light Systems, amounting to around Rs 300 crore under the “Mukhyamantri Gramin Solar Street Light Yojana,” covering 10 districts in Bihar.

Through this partnership with the Government of Bihar, the company has now gained reliable experience in efficiently supplying and installing Solar Street Light Systems in both urban and rural areas.

Recently, ITI Limited secured its first Electronic Voting Machine (EVM) order from the State Election Commission (SEC) of West Bengal for the supply of Electronic Voting Machines following a successful demonstration.

Established in 1948, ITI Ltd, a public sector undertaking specializing in telecommunications technology, manufactures and sells telecom equipment (including telephones and energy meters). It also offers services such as manufacturing for other companies and equipment testing and undertakes large-scale projects in internet access, defense communication, and more.

The stock is trading at Rs 296, with a market capitalisation of over Rs 28,504.71 crore. Over the last 12 months, the stock has doubled investor wealth, delivering a stellar return of over 99 per cent.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice.