ITI Ltd shares zoom 9% after emerging as L1 bidder for Rs 3,000 crore project
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Shares of ITI Ltd today rallied 9% to an intraday high of Rs 291 on the BSE after the company announced that it has emerged as the L1 bidder for a Rs 3,022 crore BharatNet project for Middle Mile Network. The company has emerged as the lowest bidder for the project in Himachal Pradesh, West Bengal and Andaman & Nicobar Islands. “ITI Limited, the country’s first PSU post-independence and a premier telecom manufacturing company with its consortium partner has emerged as L1 in BharatNet Phase-3 Project in the states of Himachal Pradesh for Package No. 8, and in West Bengal, and Andaman & Nicobar Islands for Package No. 9 with total order value of Rs. 3,022 Crores,” said the company in a filing to the exchanges. ITI Limited-led Consortium has succeeded in these two packages out of 11 packages for which tender was opened till now out of a total of 16 packages covering the length and breadth of the country, the filing further added. BSN...