ITI surges 20% on work order win of Rs 66.34 billion from BSNL

The stock rallied 20% to Rs 112 on the BSE on back of heavy volumes.

Shares of ITI surges 20% to Rs 112 on the BSE after the company said it has received an advance work order (AWO) worth of Rs 66.34 billon from BSNL.

“ITI has received an advance work order (AWO) from BSNL for the operation and maintenance and sales & marketing of the passive infrastructure of 6945 BTS sites of BSNL's GSM network in UP East, UP West, Uttarkhand and Tamilnadu Circles,” the company said in a statement.

The AWO value (at provisional rates) is Rs 66.34 billion inclusive of taxes. The order is for a period of 10 years,