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Shares of ITI Limited were locked in the 20 per cent upper circuit at Rs 149.40 on the BSE on Monday at 02:04 PM backed by heavy volumes after the company said it developed its own branded Laptop and Micro PC in the market that match international quality and performance.
In an exchange filing the company said, branded as ‘SMAASH’, the products have been deployed in the market, and ITI Limited has won many tenders competing against MNC brands like Acer, HP, Dell and Lenovo. The two flagship products - Laptop and Micro PC have been designed in association with Intel Corporation with which an MOU has been signed for design and manufacturing.
The trading volumes at the counter jumped over 10-fold today. A combined 19.34 million equity shares representing 2 per cent of total equity of the company changed hands on the NSE and BSE. There were combined buy orders for 1.1 million shares on both the exchanges.
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ITI Limited said that more than twelve thousand SMAASH PCs have been deployed and are successfully performing at various customer sites. SMAASH PC comes in variants like i3, i5, i7 and so on. One of the solutions that ITI Limited offers is the SMAASH PCs with solar solutions. The SMAASH PCs are highly compatible with solar solutions since they take DC input.
SMAASH laptops have variants like i3, i5, i7 etc., and the base configuration with Celeron models is specially designed for students. ITI Limited has recently won two tenders from KITE- Kerala Infrastructure and Technology for Education, and has supplied around 9,000 laptops to the government schools in Kerala, ITI Limited said.
ITI Limited, country’s premier telecom company and multi-unit central public sector undertaking, is a total solutions provider in telecommunications segment. ITI Limited is the leading provider of Electronic manufacturing i.e Defence electronics products & systems. Our cutting-edge technology and solutions will revolutionize the industry and take it to the next level. During the year, the Company has Manufactured Encrytpor’s for Defence, Laptop / PC, Solar Panels, Optical Fiber Cable, High-Density Polyethylene (HDPE), Switched Mode Power Supply (SMPS), etc at its various Units.
The order book of ITI is about Rs 11,460.14 crore on June 30, 2023. The company has planned for a turnover of Rs 2,648 crore for FY24. ITI is focusing on manufacturing in a big way and plans to take up turnkey projects as System Integrator (SI) to increase the value addition.
ITI is executing a defence order for Phase IV of the Army Static Switched Communication network (ASCON) project. The project includes civil works for the infrastructure and optical fibre network, installation, commissioning and maintenance of equipment such as IP MPLS routers, Microwave Radio, Satellite terminals, NMS and testing tools.
To be part of nation building ITI has received Purchase Order from BSNL for Planning, Engineering, Supply, Installation & Commissioning and AMC of 4G Mobile Network for 23,633 Sites in West Zone of BSNL Network.
Other than being the SI to implement this project, ITI is planning to manufacture the 4G RAN equipment as well as requirements of other operators, for both 4G & 5G. This shows The Government's emphasis on 'Make in India' and 'Atmanirbharta' towards self-reliance in manufacturing and this provides great opportunity for import substitution and promoting innovative indigenous solutions for Telecom market.
The Memorandum of Understanding (MoU) with Intel Corporation for market analysis and product development, as well as with Microsoft Corporation for OEM products, remains strong in both the PC and Laptop segments, the company said in its FY23 annual report.
