On Monday, the shares of a premium telecom manufacturing company saw a surge in stock price of 6.5 percent after signing a memorandum of understanding (MoU) with J&K Operations Private Limited.
With a market capitalization of ₹31,075.08 crores, the ITI Ltd. stock price rose by 6.5 percent from its previous closing price of ₹312.50 to an intraday high of ₹333.
ITI Ltd., a PSU telecom manufacturing company, announced the signing of a Memorandum of Understanding (MoU) with J&K Operations Private Limited. With this collaboration, the company aims to manufacture and provide BharOS-enabled digital devices, including mobiles, routers, tablets, and more, to enhance the digital security infrastructure of Digital India.
‘BharOS’, known for its reliability and security, offers users a trustworthy environment, ensuring the integrity of their digital interactions.
With this partnership, ITI Limited underscores its commitment to advancing India’s digital landscape while prioritizing data security and user privacy.
The revenue from operations of ITI Ltd. increased by 0.97 percent, from ₹256.35 crores in Q3 FY23 to ₹258.84 crores in Q3 FY24 on a YoY basis, and in the same period, the company’s net loss decreased from ₹87.61 crores to ₹101.25 crores.
It has a return on capital employed of 3.55 percent and a return on equity of 18.36 percent for the trailing twelve months (TTM).
ITI is primarily focusing on manufacturing in a big way and plans to take on turnkey projects as a ‘System Integrator’ (SI).
ITI Ltd. has manufacturing units in Bengaluru, Palakkad, RaeBareli, Naini, Mankapur, and Srinagar. It also has a diverse suite of product segments, including Gigabit Passive Optical Network (GPON), Managed Leased Line Network (MLLN) products, Stand Alone Signaling Transfer Point (SSTP), Wi-Fi Access Point, Radio Modem, SMPS, Set Top Box and Defense products like multi-capacity encryption units,
The shareholder pattern of the company shows 90.28 percent ownership with the promoters, followed by 9.61 percent with the public, and the remaining 0.09 percent with foreign institutional investors (FII) and 0.02 percent with domestic institutional investors (DII).
ITI Ltd. is a telecom manufacturing company engaged in the manufacturing, trading, and servicing of telecommunication equipment, as well as rendering other associated and ancillary services.
Written by Praveen R
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