PSU stock in focus after securing project worth ₹72.76 Cr in Himachal Pradesh

SYNOPSIS: ITI Limited has secured a Rs. 72.76 crore contract to build an ice-hockey rink with solar backup in Himachal Pradesh’s Lahaul & Spiti, supporting sports infrastructure and tourism in the high-altitude region.

During Tuesday’s trading session, shares of India’s first PSU post-independence and premier telecom manufacturing company are in focus on the stock exchanges, after securing a project worth nearly Rs. 72.76 crores in Himachal Pradesh.

With a market cap of Rs. 29,855 crores, shares of ITI Limited closed in the red at Rs. 310.7 on BSE, down by around 0.6 percent, compared to its previous closing price of Rs. 312.6. The stock has delivered negative returns of around 18 percent in one year, but has gained by around 1 percent in the last one month.

What’s the News:

As per the latest disclosures with the stock exchanges, ITI Limited has secured a Rs. 72.76 crore work order for the Ice-Hockey Rink Project at Kaza in the Lahaul & Spiti district of Himachal Pradesh. The order has been awarded by the Office of the Deputy Commissioner, Lahaul & Spiti, for the construction of an Ice-Hockey Rink facility at Kaza Soma.

Under the contract, ITI Limited will develop a fully equipped ice-hockey rink, supported by a 500-kW solar power backup system, along with the installation of CCTV cameras, lighting and other allied accessories to ensure a safe, high-quality experience for both players and spectators. 

The project forms part of a broader initiative to create world-class sports infrastructure in the high-altitude Spiti Valley, complementing ongoing efforts under the High-Altitude Sports Training Centre scheme. It is aimed at strengthening professional training facilities in challenging terrain.

Through this investment, the local administration seeks to expand sports opportunities, encourage youth participation, and promote sports tourism in the Lahaul & Spiti district, located at an altitude of nearly 12,000 feet.

Ice Hockey began in Spiti in 2019, and despite being a relatively new sport in the region, it has already shown promise, with local teams winning multiple medals at national-level competitions.

Financials & More:

ITI reported a decline in revenue from operations, experiencing a year-on-year decrease of more than 46 percent, from Rs. 1,016 crores in Q2 FY25 to Rs. 543 crores in Q2 FY26. However, the company narrowed its net loss to Rs. 54 crore from Rs. 70 crore, reflecting a nearly 23 percent YoY improvement.

ITI Limited, India’s premier telecom company and multi-unit central public sector undertaking, is a total solutions provider in telecommunications segment. It has state-of-the-art manufacturing facilities in 6 locations (Bengaluru, Naini, Raebareli, Mankapur, Srinagar and Palakkad) along with an in-house R&D centre in Bengaluru and marketing, sales & projects (MSP) offices spread across the country.

The company offers a complete range of telecom products covering the whole spectrum of switching, transmission, and access & subscriber premises equipment, and has a dedicated Network System Unit (NSU) for carrying out installation and commissioning of equipment and for undertaking turnkey projects. 

ITI is focused on the manufacturing of diversified products in the defence and railway sectors and the manufacturing of solar equipment, NGN products, GPON, LED lighting systems, optical products, along with other allied products like HDPE, OFC, smart cards, encryptors for defence, Wi-Fi, etc. 

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