Shares of ITI Ltd zoomed 10.3% to their day’s high of Rs 335 on the BSE after the company emerged as the lowest bidder for three packages of BharatNet Phase3 project for a total Value of Rs 4,559 crore.The company with its consortium partner has emerged as the L1 for Package No. 15 of BharatNet Phase-3 Project comprising Arunachal Pradesh, Nagaland and Manipur states with an order value of Rs 1,537 crore.ITI also emerged as L1 (on November 7, 2024) for Package No. 8 in the state of Himachal Pradesh, and for Package No. 9 in West Bengal, & Andaman and Nicobar Islands with an order value to Rs 3,022 crores.With this, the company has emerged as L1 for three Packages (8,9, &15) taking the total order value to Rs 4,559 crore.The BharatNet Phase-3 Project is divided into 16 Packages spread across all states & union territories. BSNL had invited tenders, for Design, Supply, Construction, Installation, Upgradation, Operation and Maintenance of Middle Mile Network of BharatNet Phase-3 Project on a Design Build Operate and Maintain (DBOM) Model.Recently, ITI won an order from Bihar Renewable Energy Development Authority (BREDA) for supply and installation of 1,00,000 numbers of Solar Street Light Systems to Bihar State Government worth Rs 300 crores.On Friday, ITI's shares closed at Rs 305, up 13.8% on the BSE, while the benchmark Sensex fell 0.07%. Its shares have surged 43% in just 2-weeks and 174% over the past two years, with the company currently holding a market capitalization of Rs 29,307 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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