We are talking about ITI. ITI Limited i.e. Indian Telephone Industries is an electronic product manufacturing company of the Government of India. This Government of India company was established in 1948. The government's stake in the company is 90.28 percent. In the month of November, the share price has increased from Rs 221 to Rs 334. Whereas, the all-time high level of the company's share is Rs 384.

5- 50% rise in a day-  ITI share price hit a 10-month high of Rs 335 after rising 10 per cent on the BSE amid heavy volumes in intraday trade on Monday.

The rise in ITI stock came after the company announced that it had emerged as the lowest bidder (L1) for three packages of the BharatNet Phase-3 project for a total value of Rs 4,559 crore. ITI stock is trading higher for the fifth consecutive day. During this period, the stock has jumped 51 per cent. In comparison, the BSE Sensex gained less than 1 per cent during this period. At the end of the September 2024 quarter, the Government of India (GOI) held 90 per cent stake in ITI. Why the rise now? ITI informed the stock exchanges on Sunday, November 10, that the company along with its consortium partner has emerged as the lowest bidder (L1) for package number 15 of BharatNet Phase-3 project covering the states of Arunachal Pradesh, Nagaland and Manipur with an order value of Rs 1,537 crore. ITI Limited emerged as the L1 bidder (as on November 7, 2024) for package number 8 in the state of Himachal Pradesh and package number 9 in West Bengal and Andaman and Nicobar Islands with an order value of Rs 3,022 crore. With this, ITI has emerged as the L1 bidder for three packages (8, 9 and 15), taking the total order value to Rs 4,559 crore. ITI manufactures telecom equipment and provides solutions to telecom service providers, Ministry of Defence and other government agencies. The company's product portfolio includes GSM (Global System for Mobile Communications) and CDMA (Code-Division Multiple Access) products, defense products and many other products. With the first mover advantage, ITI has been one of the major contractors for projects of BSNL, MTNL, Ministry of Defense, Ministry of Rural Development, etc. in the last few decades. ITI has been involved in government projects like Make in India, Digital India and Smart City. According to reports from the brokerage house, the company's performance is likely to improve in FY25 with a strong order book in the second half of the year. Meanwhile, last month, rating agency Acuite upgraded its long-term rating of ITI's bank loan facilities with a 'stable' outlook. In addition, losses have seen a reduction from FY22 to FY24 and the company will benefit from a large order book of Rs 11,227.32 crore by June 30, 2024 in the next few quarters.