India's ITI jumps on appointment of new chairman and MD

ITI

22/02/2023 05:17

** Shares of ITI  ITEL.NS  rise as much as 8.90% to 105.80
rupees, an over one-month high
    ** Uptick in state-owned telecom equipment maker's shares
comes after government appoints Rajesh Pai as chairman and
managing director of ITI for five years, effective Feb. 21
    ** Pai had served as general manager (admin) of Mahanagar
Telephone Nigam in Mumbai and chief technology officer of
Mahanagar Telephone Mauritius, where he was responsible for
CDMA, GSM, 3G and 4G network
    ** About 2.43 mln shares change hands as of 10:39 a.m. IST,
more than five times the 30-day avg of 454,291 shares -
Refinitiv data
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))