ITI Ltd to sign contract for ASCON Phase IV project

ITI Limited was declared as L1 in the 'Army Static Switched Communication Network (ASCON) - Phase IV Project' in the year 2017.

In this regard, ASCON working group, Integrated HQ of MoD (Army), has communicated to the Company vide its letter no. B/50518/AWG/Ph4/RFP/T3/ dated 10th September 2020 that necessary approval for project has been obtained and the contract is expected to be signed very shortly.

The value of the bid is approximately Rs 7796 Crores (including taxes).

Shares of ITI LTD. was last trading in BSE at Rs.134.65 as compared to the previous close of Rs. 119.85. The total number of shares traded during the day was 574467 in over 8214 trades.

The stock hit an intraday high of Rs. 136.95 and intraday low of 120.5. The net turnover during the day was Rs. 75424868.

Source : Equity Bulls

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