Government-run telecom equipment manufacturer ITI Ltd saw its shares zoom nearly 5 percent in the early hours of trade on May 23 after the company said it bagged a nearly Rs 4,000-crore order from Bharat Sanchar Nigam Limited (BSNL) for setting up 4G infrastructure.
“ITI Limited has bagged an advance purchase order (APO) from BSNL worth Rs 3,889 crore for its 4G rollout. BSNL has issued an Advance Purchase Order (APO) for Reservation Quota (RQ) Order in the West Zone,” the company said in an exchange filing.
As of 9.40am, the stock traded up 4.69 percent at Rs 110.87 on the BSE.
According to the detail provided by ITI, the scope of work includes planning, engineering, supply, installation and commissioning, and AMC of 4G Mobile Network for 23,633 sites in West Zone of BSNL Network.
The supply period is 18-24 months and warranty is 12 months with consortium partner being TCS. This is an APO for the entire scope of work and the Purchase Order will be issued by BSNL Circles in the West Zone. As part of the contract, ITI Limited will manufacture the Radio Access Network (RAN).
“We are delighted to receive this order from BSNL and we are thankful to the Ministry of Communication and BSNL for reposing great trust and faith in ITI’s execution capability,” said Rajesh Rai, Chairman and Managing Director of ITI Limited.
“In the past, ITI Limited has successfully deployed 2G and 3G GSM Networks (Nodes and RAN) for BSNL in the West Zone as well as in the South Zone.”
ITI manufactured telecom products covering the whole spectrum of switching, transmission and access, and subscriber premises equipment.
