ITI Limited’s share price surged nearly 3 percent in early trading on August 30 following the announcement of a new order from the State Election Commission (SEC) of West Bengal.
At 09:26 am, ITI quoted Rs 307.90, up Rs 8.15, or 2.72 percent, on the BSE.
The company secured an order to supply 500 sets of its indigenous Multi Post Electronic Voting Machines (EVMs).
These EVMs, designed and developed by ITI Limited to meet the specifications finalized by the SEC and approved by the standing committee of State Election Commissioners, will be used for local body elections across various levels such as Gram Panchayats, Municipalities, and Corporations.
This EVM machine can also be used as a single post machine for meeting the requirements of Lok Sabha/Assembly elections.
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The product will be manufactured at ITI Limited’s factories, adhering to the technical specifications set by the Election Commission. It will be delivered on a fast-track basis, ensuring compliance with quality norms and meeting the commitments made to the West Bengal SEC.
The company's net losses decreased to Rs 91.31 crore in the quarter ended June 2024.
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