On Wednesday, ITI Limited’s stock experienced a remarkable surge, reaching the 5% upper circuit limit despite a general downturn in the Indian stock market following the Reserve Bank of India’s policy announcement. This spike in ITI share price, which climbed to ₹254.85 on the Bombay Stock Exchange (BSE), is primarily attributed to the company’s recent unveiling of the State Network Operations Center (S-NOC) for the BharatNet Phase-III Project in Himachal Pradesh.

ITI Limited’s New Initiative

The state-owned telecom manufacturer, ITI Limited, announced the launch of the S-NOC for the ambitious BharatNet Phase-III Project. Located in Solan, Himachal Pradesh, this center will work closely with BSNL to oversee and manage the network’s performance, security, and availability. ITI emphasized that the S-NOC will play a crucial role in ensuring the seamless delivery of services across the network infrastructure.

Key Highlights of the BharatNet Project

• In November 2024, ITI Limited was awarded the L1 status for BharatNet Phase-III Projects across various regions, including Himachal Pradesh and West Bengal, with a total contract value of ₹5,050 crore.
• The BharatNet initiative aims to enhance the Middle Mile Network, utilizing a Design Build Operate and Maintain (DBOM) model, supported by the Universal Service Obligation Fund (USOF) from the Government of India.
• This project will connect 3,615 gram panchayats to 91 block headquarters, facilitating connectivity with 10 Gbps bandwidth integrated into the BSNL IP-MPLS Ring Network.
• Ultimately, the project aims to extend its reach to 15,538 villages in Himachal Pradesh, involving the installation of approximately 20,000 kilometers of optical fiber cable (OFC).

Current Share Performance

In recent months, ITI’s stock performance has shown volatility, with a decline of over 5% in the last month and a staggering 42% drop over the past three months. Year-on-year, the ITI stock has also seen a modest decrease of around 5%. However, looking at the long-term perspective, the stock has proven to be a strong performer, boasting a 177% increase over two years and an impressive 248% rise over five years, delivering substantial returns for its investors. As of 12:05 PM, ITI shares were trading at ₹253.80, up 4.55% on the BSE.

Conclusion

The initiation of the BharatNet Phase-III Project marks a significant step forward for ITI Limited, promising enhanced connectivity across Himachal Pradesh. Investors and market watchers alike will be keen to see how this project impacts the company’s stock performance in the coming months, especially in light of its impressive long-term growth trajectory.