ITI shares soar 40% in 1 week amid heavy volumes

Shares of ITI Ltd, a public sector telecommunications giant, surged as much as 9.4% to Rs 403.75 on the BSE, marking the third straight session of gains on Tuesday. This rally extends a remarkable one-week climb of over 40%, fueled by soaring trading volumes and renewed investor interest.

The rally comes on the back of strong business developments. On November 19, ITI secured a Rs 95 crore contract from the Directorate of Geology & Mining, Government of Uttarakhand, for its Mining Digital Transformation & Surveillance System (MDTSS) project. Under this deal, ITI will develop, implement, and maintain the MDTSS across 40 check gates in key districts, including Dehradun and Haridwar.

Earlier in November, ITI emerged as the lowest bidder for three packages of the BharatNet Phase 3 project, valued at Rs 4,559 crore. BharatNet Phase 3 aims to expand India’s broadband infrastructure, and ITI will manage tasks including design, supply, and maintenance under a Design-Build-Operate-Maintain (DBOM) model.

Beyond recent contracts, ITI Limited has been a cornerstone in building India’s telecom infrastructure. Its portfolio spans optical fiber cables, 4G and 5G network equipment, encryption solutions, and smart cards. ITI also delivers secure communication services for defense and strategic sectors while expanding into data centers, IoT, e-governance, and cybersecurity.

The company, which was established in 1948 under the Ministry of Communications, has seen an equally robust financial performance, with a staggering 312% year-on-year jump in net sales for the quarter ended September, reaching Rs 1,016.20 crore.

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