ITI surges 7% on purchase order of Rs 1011 crore from GFGNL

Shares of ITI gained 7.3 percent on Monday after company received purchase order from Gujarat Fibre Grid Network (GFGNL) under BharatNet Phase II project.

The company has signed a contract with GFGNL for implementing BharatNet Phase II project in one of the two packages in the state of Gujarat.

The purchase order from GFGNL is valued at Rs 1011.41 crore towards the Capex part of the project, to be completed in a period of one year and Rs 190.04 crore towards operation and maintenance of the network for 3 years after the implementation of the project.

The share touched its 52-week high Rs 137.90 and 52-week low Rs 69.40 on 12 April, 2018 and 09 October, 2018, respectively.

Currently, it is trading 18.78 percent below its 52-week high and 61.38 percent above its 52-week low.

At the end, ITI was at Rs 112.05, up Rs 7.65, or 7.33 percent on the BSE.

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