ITI Ltd Share Price – NSE  / BSE

Telecomm Equipment & Infra Services, Small Cap

The Uttarakhand Government envisaged this project for effective prevention of illegal mining and mineral transportation and to increase its revenue in the state.

As part of this contract, ITI will be the work agency for development, implementation and maintenance of Mining Digital Transformation & Surveillance System (MDTSS) in the districts of Dehradun, Haridwar, Udham Singh Nagar, and Nainital.

Accordingly, an MoU of Rs 95 crore for five years has was signed between ITI and Government of Uttarakhand. The systems will be installed at 40 check gates across Dehradun, Haridwar, Nainital, and Udham Singh Nagar.

The new system equipped with bullet cameras, RFID radars, and LED floodlights will not only help monitor illegal mining activities but also boost the state government’s revenue.

Besides, a Mining State Control Centre (MSCC) will be set up in Dehradun, along with mini command centres at district headquarters in Dehradun, Haridwar, Nainital, and Udham Singh Nagar.

Rajesh Rai, chairman and managing director, ITI, said: “It gives me a great sense of satisfaction to see that the Government of Uttarakhand has selected ITI as its technology partner in its efforts to curb illegal mining.

ITI will leverage its strong technology domain expertise to help Uttarkhand Government achieve its objectives. We are also exploring such projects with other states where we can help them.”

ITI, a multi-unit central public sector undertaking, is a total solutions provider in telecommunications segment. The company offers complete range of telecom products covering the whole spectrum of switching, transmission, and access & subscriber premises equipment.

On a consolidated basis, ITI reported net loss of Rs 70.33 crore in Q2 FY25 as against net loss of Rs 126.01 crore in Q2 FY24. Net sales soared 312.30% year-on-year to Rs 1,016.20 crore in Q1 June 2024.

The scrip rose 0.84% to currently trade at Rs 293.7 on the BSE.

Powered by Capital Market - Live News

ITI has received a contract worth around Rs 95 crore from Directorate of Geology & Mining, Government of Uttarakhand for Mining Digital Transformation & Surveillance System (MDTSS) project. The Uttarakhand Government envisaged this project for effective prevention of illegal mining and mineral transportation and to increase its revenue in the state.

As part of this contract, ITI will be the work agency for development, implementation and maintenance of Mining Digital Transformation & Surveillance System (MDTSS) in the districts of Dehradun, Haridwar, Udham Singh Nagar, and Nainital. Accordingly, an MoU of Rs 95 Crs for five years has was signed between ITI Limited and Government of Uttarakhand. The systems will be installed at 40 check gates across Dehradun, Haridwar, Nainital, and Udham Singh Nagar. Dehradun will have 8 check gates, Haridwar 13, Nainital 10, and Udham Singh Nagar 9.

The new system equipped with bullet cameras, RFID radars, and LED floodlights will not only help monitor illegal mining activities but also boost the state government's revenue. Besides, a Mining State Control Centre (MSCC) will be set up in Dehradun, along with mini command centres at district headquarters in Dehradun, Haridwar, Nainital, and Udham Singh Nagar.

Powered by Capital Market - Live News

Net Loss of ITI reported to Rs 70.33 crore in the quarter ended September 2024 as against net loss of Rs 126.01 crore during the previous quarter ended September 2023. Sales rose 312.30% to Rs 1016.20 crore in the quarter ended September 2024 as against Rs 246.47 crore during the previous quarter ended September 2023.

Powered by Capital Market - Live News

ITI with its consortium partner has emerged as the lowest bidder (L1) for package no. 15 of BharatNet phase-3 project comprising Arunachal Pradesh, Nagaland and Manipur states with an order value of Rs 1537 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 3022 crore. With this, ITI has emerged as L1 for three packages (8, 9, & 15) taking the total order value to Rs 4559 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.

ITI, a multi-unit central public sector undertaking, is a total solutions provider in telecommunications segment. The company offers complete range of telecom products covering the whole spectrum of switching, transmission, and access & subscriber premises equipment.

On a consolidated basis, ITI reported net loss of Rs 91.31 crore in Q1 June 2024 as against net loss of Rs 102.81 crore in Q1 June 2023. Net sales soared 231.11% year-on-year to Rs 519.98 crore in Q1 June 2024.

The company's board will consider Q2FY25 results on Thursday, 14 November 2024.

Powered by Capital Market - Live News