ITI advances 12% on orders win worth Rs 2,658cr from Maharashtra Govt

Share price of ITI added 12 percent intraday Thursday as company received letter of intent (LoI) worth of Rs 2,658 crore.

The company received letter of intent from Maharashtra State Government for execution of project for value of Rs 2,658 crore for two packages.

The company has participated in MahaNet-I project in Maharashtra along with consortium partners Aksentt and Karvy Data Management Services, for selection project implementation agency.

LoI will be converted as contract on submission of PBG within one month and signing contract with customer.

At 10:33 hrs ITI was quoting at Rs 93.95, up Rs 7.35, or 8.49 percent on the BSE.