The shares of one of India’s leading telecom companies rose 6.5 percent on Wednesday after the company received a Certificate of Accreditation from NABL for its Electromagnetic Compatibility Laboratory.
At 11:40 a.m., ITI Limited shares were trading at Rs 313.95 per share, down 0.84 percent from the previous close price.
The Electromagnetic Compatibility Laboratory (EMC Lab) at ITI Limited has been accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL) in accordance with the standard ISO/IEC 17025:2017 for the Competence of Testing & Calibration Laboratories in the Field of Electrical Testing.ITI reported in its regulatory filing.
In addition, NABL Accreditation for EMI/EMC Lab has been renewed, as has Safety Lab accreditation. As part of the Telecom Testing Centre, ITI Limited has established an in-house EMC lab. Which was started by the corporation under the MoU signed with TEC to meet the EMC standards for the telecom equipment.
The company’s revenue fell by 5.4 percent year on year, falling from Rs 166 crore in Q1FY23 to Rs 157 crore in Q1FY24. Within the same time period, Net losses have increased from Rs 99 crore to Rs 102 crore.
The company’s stock has gained a return of 232 percent in six months and 208 percent over a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 3.32 lakhs in six months and Rs. 3.08 lakhs in a year.
As per the recent shareholding pattern, company promoters hold a 90.28 percent stake in the company, domestic institutional investors hold a 7.62 percent and retail investors hold a 1.99 percent stake.
Recently, the company received recognition from ISRO and the Department of Telecommunications for playing a significant role in the successful launch of Chandrayaan-3.
ITI Limited is engaged in the business of manufacturing, trading, and servicing of telecommunication equipment, and services.
Written by Omkar Chitnis
