This company of Modi government created a stir, earned Rs 8500 crore in 4 days - Newztezz Online


Thursday, September 14, 2023

This company of Modi government created a stir, earned Rs 8500 crore in 4 days

The shares of ITC Limited have increased by 71 percent in the last 4 days. Earlier the share of the company was not even Rs 125, today during the trading session the share of the company crossed Rs 200. The market cap of the company, which was not even Rs 12 thousand crore, crossed Rs 20 thousand crore.

The government has given relief to foreign players by putting the system of obtaining licenses for import of personal computers and laptops on hold for this year. On the other hand, the government company or rather the local player of the government has made a big announcement to defeat these foreign players. Since then, the shares of this PSU have been rising steadily and investors are earning handsomely. The name of this company is ITI Limited and manufactures telecom equipment and accessories.

Company's shares at 25 year high

Shares of ITI Limited on BSE rose by 7 percent on Thursday to reach a high of more than 25 years. The stock has taken the figure of Rs 213.30, which is the highest since February 1994. According to BSE data, the previous highest record level of the stock was Rs 275 on January 11, 1994. In the last four days, the stock of ITI Limited has increased by 71 percent. Before the market closed, the company's shares were trading at Rs 210 with a rise of 5.42 percent. The special thing is that the valuation of the company has increased by more than Rs 8500 crore.

Company announced

In fact, the company has announced that it has developed its own branded laptop and micro PC in the market which is of international quality and whose performance is quite excellent. Its new 'SMAASH' branded products have hit the market, and it has won bids against multinational brands like Acer, HP, Dell and Lenovo, the company said in an exchange filing. The government company has designed both the products in collaboration with Intel. ITI said in an exchange filing that it has signed an MoU with Intel for design and manufacturing. Products i3, i5, i7 and other microprocessor series of Intel have been added.

abundance of government orders

ITI has recently won two tenders from Kerala Infrastructure and Technology for Education (KITE) and has supplied around 9,000 laptops to government schools in Kerala, it said in an exchange filing. ITI said that more than 12,000 SMAASH PCs have been installed at customer sites. ITI said that it provides SMAASH personal computers with solar solution.

Have also worked on these government projects

Meanwhile, the company's revenues are looking much better, with a strong order book of Rs 11,460.14 crore till June 30, 2023. 90.28 percent stake of ITI is owned by the government and it is operated by DoT under the Ministry of Communications. ITI has been involved in government projects like Make in India, Digital India, Smart City. Based on its track record, ITI has won major projects of the Ministry of Defense like BharatNet Phase-II and ASCON Phase IV projects, Supply of Smart Energy Meters, Network for Spectrum, TANFINET etc.

Valuation increased by more than 8500 crores

The special thing is that in the last four days the valuation of the company has increased by more than Rs 8500 crore. Four days ago, the share price of the company was only Rs 124.50 and the market cap was Rs 11963.04 crore. When the company's share reached Rs 213.30 today, the market cap figure of the company reached Rs 20495.71 crore. This means that the company's market share increased by Rs 8,532.67 crore during the trading session itself.

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