ITI surges on signning tripartite MoU with C-DOT, TCIL
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ITI is currently trading at Rs. 113.15, up by 4.50 points or 4.14 % from its previous closing of Rs. 108.65 on the BSE.
The scrip opened at Rs. 110.40 and has touched a high and low of Rs. 114.45 and Rs. 110.40 respectively. So far 28367 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 129.50 on 21-Jul-2022 and a 52 week low of Rs. 81.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 114.45 and Rs. 107.20 respectively. The current market cap of the company is Rs. 10440.04 crore.
The promoters holding in the company stood at 90.17%, while Institutions and Non-Institutions held 7.79% and 2.03% respectively.
ITI has signed a Tripartite memorandum of understanding (MoU) with Centre for Development of Telematics (C-DOT), and Telecommunications Consultants India (TCIL) as part of the larger efforts by the Government to synergize R&D efforts in the field of telecommunications aimed at establishing a frame work for cooperation between C-DOT, TCIL, and ITI in creation and delivery of innovative telecommunication products and related services for Smart Cities.
The co-operation between TCIL, ITI and C-DOT envisages joint execution of Projects that are of mutual interest to all the three Parties. Each Project shall be governed by a separate Project Agreement, in which TCIL will be the Lead Partner, C-DOT will be the Technology Partner and ITI will be the Manufacturing Partner.
ITI, country’s premier telecom company and multi-unit central public sector undertaking, is a total solutions provider in telecommunications segment.
