Shares of a small-cap company gained 18.24 percent on Monday’s afternoon trades to reach a fresh 52-week high of ₹ 147.15 apiece on the National Stock Exchange (NSE) after it announced that it has launched its branded laptop and micro PC ‘SMAASH’ in association with Intel Corporation.
ITI Ltd is a Central PSU under the Ministry of Communication. The company is engaged in manufacturing, trading and servicing of telecommunication equipment, and rendering other associated and ancillary services. The Company focuses on offering telephone communication services.
The company informed the bourses that it has developed its own branded Laptop and Micro PC in the market that match international quality and performance. The product is branded as ‘SMAASH’ and has already been deployed in the market. ITI has won many tenders competing against MNC brands like Acer, HP, Dell and Lenovo.
Its flagship products – Laptop and Micro PC have been designed in association with Intel Corporation with which an MOU has been signed for design and manufacturing, according to the filing.
The company’s micro PC is a GREEN solution product that does computation like any other PC, with less Carbon Footprint and considerably reduces e-waste, consumes less power as compared to conventional PCs, is of small size, has no moving parts like a fan, and has a long life. In essence, its products save electricity, cost, and workspace.
ITI recently won two tenders from KITE- Kerala Infrastructure and Technology for Education and has supplied around 9,000 laptops to the government schools in Kerala.
With a market capitalization of ₹ 11,822 crores, ITI is a small-cap company. It has a negative return on equity of 3.31 percent and an ideal debt-to-equity ratio of 0.79. The government holds a 90.28 percent stake in it, followed by retail investors with 9.63 percent, foreign institutions with 0.08 percent and mutual funds with 0.01 percent.
Written by Simran Bafna
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