PSU stock hits 5% upper circuit after launching ₹5,050 Cr internet project in Himachal Pradesh

This PSU telecom stock engaged in manufacturing telecommunications and defence equipment, offering ICT solutions, and providing services in smart energy and solar products, hit a 5 percent upper circuit after initiating the State Network Operations Center (S-NOC) for the BharatNet Phase III Project in Himachal Pradesh, in partnership with BSNL.

Stock Price Movement

With a market capitalization of Rs. 24,387.31 crores, the shares of ITI Limited hit a 5 percent upper circuit of Rs. 254.85 per share on Wednesday, up from its previous closing price of Rs. 242.75 per share. Since then, the stock has retreated and is currently trading at Rs. 253.60 per equity share. 

What Happened

ITI Limited, a leading telecom PSU, has initiated the State Network Operations Center (S-NOC) for the BharatNet Phase-III Project in Himachal Pradesh, in partnership with BSNL. This project aims to provide high-speed broadband connectivity to rural areas by connecting 3,615 gram panchayats to 91 block headquarters via optical fiber. 

With an investment of Rs. 5,050 crore, approximately 20,000 kilometers of optical fiber will be laid, improving digital access in rural areas. The project will enhance services in education, healthcare, and governance, contributing significantly to the region’s digital development and rural empowerment. ITI’s role ensures timely execution and sustainable connectivity in Himachal Pradesh.

Also read: PSU Power stock in focus after ₹1 Lakh Cr MOU with MMRDA in for infra projects in Mumbai Metropolitan Region

Manufacturing Facilities

The company has six manufacturing facilities located in Bengaluru, Naini, Rae Bareli, Mankapur, Palakkad, and Srinagar. These facilities specialize in telecommunications equipment, electronic manufacturing services, and precision engineering.

Operations and Products

ITI Limited manufactures a variety of telecommunication equipment, including switching and transmission devices, GSM technology, and subscriber equipment. It also provides defence solutions like secure communication networks, encryption devices, and ruggedized phones. Additionally, ITI offers smart energy meters, solar modules, IoT products, and 3D printing solutions.

Recent quarter results

ITI Limited’s revenue has increased from Rs. 259 crore in Q3 FY24 to Rs. 1,035 crore in Q3 FY25, which has grown by 299.61 percent. The net loss of the company has reduced from Rs. -102 crore in Q3 FY24 to Rs. -67 crore in Q3 FY25.

Written By – Nikhil Naik

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post PSU stock hits 5% upper circuit after launching ₹5,050 Cr internet project in Himachal Pradesh appeared first on Trade Brains.