Multibagger stock under Rs 150: This PSU company bags Rs 3,889 crore advance purchase order (APO) from BSNL!
Over the past decade, the stock has provided multibagger returns of 504.13 per cent. Since its listing on January 1, 1999, the stock has generated returns of over 880 per cent.
Multi-technology public sector major ITI Ltd has secured an advance purchase order (APO) from BSNL worth Rs 3,889 crore for its 4G rollout. BSNL issued the APO for a reservation quota (RQ) order in the West Zone. The scope of work includes planning, engineering, supply, installation & commissioning, and AMC of the 4G mobile network for 23,633 sites in the West Zone of the BSNL Network.
The supply period is 18-24 months and the warranty period is 12 months including the 9-year AMC, with TCS being the consortium partner. ITI Limited will be responsible for manufacturing the Radio Access Network (RAN).
Today, shares of ITI Ltd witnessed a 1.58 per cent decline, trading at Rs 107.81 per share, compared to the previous closing of Rs 109.54. The intraday high was Rs 109.78, while the intraday low was Rs 107.64.
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ITI Limited engages in the manufacturing, trading, and servicing of telecommunication equipment, along with providing other associated and ancillary services. The company primarily focuses on offering telephone communication services.
With a market cap of over Rs 10,000 crore, ITI Ltd saw a 30 per cent increase in net sales in Q3FY23 compared to Q3FY22. The net profit witnessed a significant surge of 1,233 per cent in FY22 compared to FY21.
Over the past decade, the stock has provided multibagger returns of 504.13 per cent. Since its listing on January 1, 1999, the stock has generated returns of over 880 per cent. Investors should keep an eye on this mid-cap telecom stock.