{"id":133096,"date":"2024-09-10T13:08:38","date_gmt":"2024-09-10T07:38:38","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=133096"},"modified":"2024-09-10T13:23:24","modified_gmt":"2024-09-10T07:53:24","slug":"psu-stock-jumps-7-after-receiving-order-worth-300-cr-from-bihar-govt-for-solar-street-light","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/psu-stock-jumps-7-after-receiving-order-worth-300-cr-from-bihar-govt-for-solar-street-light\/","title":{"rendered":"PSU stock jumps 7% after receiving order worth \u20b9 300 Cr from Bihar Govt for solar street light"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2268252414\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of this midcap company surged by around 7 percent in Tuesday\u2019s trading session after receiving an order worth Rs. 300 crores for Solar Street Light Systems from Bihar State Government. In one year, the stock has delivered around 100 percent return to its shareholders.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3983266311\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Price Movement:&nbsp;<\/strong><\/h2><p>With a market capitalization of Rs. 28,831 crores, the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/ITI\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\">ITI Ltd<\/a><\/strong> started Tuesday\u2019s trading session on a flatter note at Rs. 283.50. During the trading session, the shares hit a high of Rs. 308, gaining around 7 percent and are currently trading at Rs. 300 apiece.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>What Happened:&nbsp;<\/strong><\/h2><p>Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had an order worth around Rs. 300 crores from Bihar Renewable Energy Development Authority for the supply and installation of 1lakh numbers of Solar Street Light Systems to Bihar State Government.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also Read: <a href=\"https:\/\/tradebrains.in\/features\/infra-stock-jumps-5-after-receiving-order-worth-781-cr-for-highway-project-in-gujarat\/\" target=\"_blank\" rel=\"noreferrer noopener\">Infra stock jumps 5% after receiving order worth \u20b9 781 Cr for highway project in Gujarat<\/a><\/strong><\/p><\/blockquote><p>This is in addition to 80,000 solar street light systems the company is currently executing in Bihar for the Bihar Renewable Energy Development Authority (BREDA).&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1207547964\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>ITI&#8217;s Naini plant, which has been manufacturing solar panels for six years has received this supply and installation order under <strong>Mukhyamantri Gramin Solar Street Light Yojana<\/strong>, which will cover districts like Gopalgunj, Siwan, Samastipur, Purnia, Araria, Gaya, Darbhanga, Patna, Katihar and Khagaria.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financials:&nbsp;<\/strong><\/h2><p>Looking at the company\u2019s financial performance, the revenue decreased by 13 percent from Rs. 601 crores during the March quarter to Rs. 520 crores in the June quarter. Contrastingly, the net losses of the company reduced from Rs. 239 crores to Rs. 91 crores during the same timeframe.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Manufacturing Facilities:&nbsp;<\/strong><\/h2><p>The company operates state-of-the-art manufacturing facilities in six locations in Bengaluru, Naini, Raebareli, Mankapur, Srinagar, and Palakkad. Additionally, it has an in-house research and development (R&amp;D) centre in Bengaluru and marketing, sales, and projects (MSP) offices located throughout the country.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Recent Development:&nbsp;<\/strong><\/h2><p>Earlier, the company had 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.&nbsp;<\/p><p>These Electronic Voting Machines (EVMs), developed by ITI Limited according to the specifications established by the SEC and approved by the standing committee of State Election Commissioners, will be utilized for local body elections at various levels, including Gram Panchayats, Municipalities, and Corporations.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Future Plan:&nbsp;<\/strong><\/h2><p>ITI Limited is actively diversifying its offerings and enhancing its technological capabilities. The company is focusing on areas such as smart city solutions, IoT applications, and cloud services, particularly for government institutions and banks. It is also involved in significant projects like BharatNet, aimed at expanding high-speed broadband connectivity across rural India&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-3457248026\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also Read: <a href=\"https:\/\/tradebrains.in\/features\/ashish-kacholia-stock-jumps-6-after-entering-into-agreement-with-hdfc-ergo-general-insurance\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ashish Kacholia stock jumps 6% after entering into agreement with HDFC ERGO General Insurance<\/a><\/strong><\/p><\/blockquote><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Company Profile:&nbsp;<\/strong><\/h2><p>ITI Limited 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.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By Vaibhav Patil&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading has-medium-font-size\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing<\/strong>.<\/p><div class=\"trade-after-content\" id=\"trade-2057344400\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of this midcap company surged by around 7 percent in Tuesday\u2019s trading session after receiving an order worth Rs. 300 crores for Solar Street Light Systems from Bihar State Government. In one year, the stock has delivered around 100 percent return to its shareholders.&nbsp; Price Movement:&nbsp; With a market capitalization of Rs. 28,831 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":128453,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[18247,6512,18248,22334,11953,22335,3601,948,936,3157],"class_list":["post-133096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-iti","tag-iti-latest-news","tag-iti-news","tag-iti-receives-order-from-bihar-government","tag-iti-share-price","tag-iti-solar-street-light-order","tag-psu-stock","tag-stock-market","tag-stock-market-news","tag-stock-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PSU stock jumps 7% after receiving order worth \u20b9 300 Cr from Bihar Govt for solar street light - 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