ITI Ltd Share Price – NSE /  BSE

Telecomm Equipment & Infra Services, Small Cap

ITI announced that the 74th Annual General Meeting (AGM) of the company will be held on 27 September 2024.

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The domestic equity benchmarks traded with moderate gains in morning trade. The Nifty traded above the 25,200 level. Pharma shares advanced after declining in the previous trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex gained 204.15 points or 0.25% to 82,338.76. The Nifty 50 index added 65.85 points or 0.26% to 25,217.80.

The Sensex and Nifty clocked an all-time high of 82,637.03 and 25,258.80, respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.55% and the S&P BSE Small-Cap index gained 0.36%.

The market breadth was positive. On the BSE, 2,107 shares rose and 1,483 shares fell. A total of 160 shares were unchanged.

Buzzing Index:

The Nifty Pharma index gained 1.14% to 23,138.20. The index shed 0.48% in the past trading session.

Natco Pharma (up 3.72%), Divis Laboratories (up 1.88%), Ipca Laboratories (up 1.86%), Biocon (up 1.60%), Lupin (up 1.45%), Alkem Laboratories (up 1.33%), Zydus Lifesciences (up 1.32%), Torrent Pharmaceuticals (up 1.3%), Granules India (up 1.24%) and Cipla (up 1.24%) advanced.

Stocks in Spotlight:

ITI advanced 2.37% after the company has received the orders from State Election Commission (SEC) of West Bengal for the supply of 500 sets of electronic voting machines (EVM).

Poonawalla Fincorp declined 1.01%. The company informed that its board has approved the appointment of Bhaskar Pandey as the new Chief Risk Officer (CRO) of the company, for a tenure of 5 years.

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The telecom manufacturing company will supply 500 sets of Electronic Voting Machines after the successful demonstration to the SEC at Kolkata.

The indigenous multi post EVM was designed and developed by the company as per the specifications finalized by SEC/Technical Evaluation Committee, and was approved by standing committee of State Election Commissioners. This multi post EVMs can be used for conducting the local body elections at Gram Panchayats, Municipalities, Corporations, or at any institutions where democratic elections are needed. This EVM machine can also be used as a Single Post machine for meeting the requirements of Lok Sabha/Assembly elections.

The product will be manufactured at the company’s factories complying to the technical specifications of Election Commission, and will be delivered on fast track basis adhering to the quality norms and as per the commitments given to West Bengal SEC.

Rajesh Rai, chairman and managing director, ITI, said, “The Company is delighted to win its first ever order to manufacture EVMs for State Election Commission (SEC) of West Bengal and we would like to use this opportunity to res-establish as a technology manufacturer to reckon with as we will be joining the elite list of EVM manufacturers in India. It is deeply honoured that the devices which will manufacture will empower and enrich the world’s largest democracy, India by providing the EVMs for all kinds of democratic elections.

ITI, country’s premier telecom company and multi-unit central public sector undertaking, is a total solutions provider in telecommunications segment. The company has state-of-art manufacturing facilities in six 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 reported consolidated net loss of Rs 91.31 crore in Q1 FY25 as compared with net loss of Rs 102.81 crore posted in corresponding quarter last year. Net sales surged to Rs 519.98 crore in Q1 FY25 as compared with Rs 157.04 crore in Q1 FY24.

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ITI has bagged its first Electronic Voting Machine (EVM) order from the State Election Commission (SEC) of West Bengal for the supply of 500 sets of Electronic Voting Machines after the successful demonstration to the SEC at Kolkata.

The indigenous Multi Post EVM was designed and developed by ITI as per the specifications finalized by SEC/Technical Evaluation Committee, and was approved by standing committee of State Election Commissioners. This Multi Post EVMs can be used for conducting the local body elections at Gram Panchayats, Municipalities, Corporations, or at any institutions where democratic elections are needed. This EVM machine can also be used as a Single Post machine for meeting the requirements of Lok Sabha/Assembly elections.

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