09 Dec , 2024 By : Debdeep Gupta
Shares of ITI surged as much as 13 percent to Rs 362 in early trade on December 9, extending gains for a second consecutive session in a row, driven by soaring volumes and fresh investor interest.
Over 4 crore shares changed hands in the morning, taking the total tally to a massive 12 crore shares in two sessions, significantly higher than the one-month and one-week average of 2 crore equity shares on the bourses, Moneycontrol data showed.
On November 19, the company received a contract worth around Rs 95 crores from the Directorate of Geology & Mining, Government of Uttarakhand for the Mining Digital Transformation & Surveillance System (MDTSS) project. As part of this contract, the company will be the work agency for the development, implementation, and maintenance of MDTSS in the districts of Dehradun, Haridwar, Udham Singh Nagar, and Nainital for 40 check gates.
In early November, the company emerged as the lowest bidder for three packages of the BharatNet Phase 3 project for a total value of 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 the Design, Supply, Construction, Installation, Upgradation, Operation, and Maintenance of the Middle Mile Network of the BharatNet Phase-3 Project on a Design Build Operate, and Maintain (DBOM) Model.
At about 10:45 am, shares of the company were trading at Rs 361, higher by 9 percent from the last close on the NSE. ITI shares have risen 24 percent in the past week.
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