President of India’s portfolio gains Rs 1386,81,27,184 in just 1 day: Telecom stock hit upper circuit after receiving total order worth Rs 6,956 crore from BSNL
The stock is up over 60 per cent from its 52-week low of Rs 210.20 per share.
On Monday, shares of ITI Ltd hit a 5 per cent upper circuit to Rs 336.40 per share compared to the previous closing of Rs 320.40 per share. The shares of the company saw a spurt in volume by more than 1.62 times on the BSE.
ITI Limited, a prominent Indian public sector undertaking in telecom manufacturing, recently secured a significant agreement with BSNL. The contract, valued at Rs 1901 crore, designates ITI Limited as the Project Implementing Agency for Package-15 of the BharatNet Phase-3 Project, specifically for the NER-II region. This comprehensive agreement covers both capital expenditure (Rs 1168 Cr) and operating expenditure, including maintenance for both new (Rs 700.84 Cr) and existing (Rs 32.21 Cr) network infrastructure. This particular package focuses on the states of Arunachal Pradesh, Nagaland, and Manipur, where ITI Limited, with its consortium partner, had emerged as the lowest bidder in November 2024.
This isn't ITI Limited's only recent success within the BharatNet initiative. The company also signed agreements with BSNL for Package No. 8 in Himachal Pradesh and Package No. 9, covering West Bengal and the Andaman and Nicobar Islands. These two additional packages collectively add Rs 5055 Crores to ITI Limited's order book, bringing their total commitment across the three BharatNet Phase-3 packages (8, 9, and 15) to an impressive Rs 6,956 Crore. The BharatNet Phase-3 Project, divided into 16 packages across various states and union territories, aims to design, supply, construct, install, upgrade, operate, and maintain a middle-mile network under a Design, Build, Operate, and Maintain (DBOM) model.
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About the Company
ITI Limited is a major organisation in the telecommunication industry that deals with the manufacturing, trading and servicing of telecommunication equipment. The company makes about 78 per cent of its sales from turnkey projects, which include large projects like BharatNet and ASCON. Service offerings make up 19 per cent of sales, including contract manufacturing and equipment testing.
Manufacturing and trading are 3 per cent, with products like energy meters and IoT devices. The order book of ITI Limited is strong with major projects like Mahanet and Gujnet under BharatNet Phase-2. ITI is a preferred vendor to BSNL and Indian Defence services, state governments and PSUs, being the major clients. ITI has six manufacturing plants in India and has received a large amount of capital from the government for its revival.
The company has a market cap of over Rs 32,000 crore. As of May 2025, the promoters (President of India & Government of Karnataka) own a 90.02 per cent stake, DIIs own 0.04 per cent, the Government own 7.88 per cent and the public owns a 2.06 per cent stake. President of India’s portfolio gains Rs 13,86,81,27,184 in just 1 day (86,67,57,949 shares x Rs 16 per share gain today). The stock is up over 60 per cent from its 52-week low of Rs 210.20 per share.
Disclaimer: The article is for informational purposes only and not investment advice.