India's ITI extends gains after consortium bags BharatNet contract

ITI

11/11/2024 09:37

** Shares of telecom company ITI  ITEL.NS  jump 7% to 325
rupees
    ** Stock heads for best day in over a year, eyes fifth
straight session of gains
    ** Co on Sunday said a consortium led by it won contract
worth 15.37 bln rupees ($182.2 mln) for state-run broadband
network BharatNet
    ** Latest contract brings co's total orders from BharatNet
to 45.59 bln rupees 
    ** Stock gained 14% in the previous session after the
consortium won another contract from BharatNet 
    ** Stock on track to log busiest trading session on record,
nearly 93 mln shares traded 
    ** ITEL up 8.3% YTD 

($1 = 84.3550 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))