ITI Limited Shares Rises 11% after becoming the lowest bidder for the BharatNet project
ITI shares jumped 11% on November 11 after the company became the lowest bidder for three packages of the BharatNet Phase 3 project, worth a total of ₹4,559 crore.
By 10:37 AM, the stock was trading at ₹338.70, up ₹35.10 or 11.56% on the BSE.
In partnership with its consortium, ITI emerged as the lowest bidder (L1) for Package 15, covering Arunachal Pradesh, Nagaland, and Manipur, with an order value of ₹1,537 crore.
The company also secured L1 status for Package 8 in Himachal Pradesh and Package 9 in West Bengal and the Andaman & Nicobar Islands, with a combined order value of ₹3,022 crore.