The shares of ITI Ltd were trading at ₹301.61, up by ₹35.12 or 13.18 per cent on the NSE today at noon.
ITI Limited, along with its consortium partner, has emerged as the lowest bidder (L1) for two packages worth ₹3,022 crore in the BharatNet Phase-3 Project. The state-owned telecom equipment manufacturer won the contracts for Package 8 covering Himachal Pradesh, and Package 9 covering West Bengal and Andaman & Nicobar Islands.
The project, funded by the Universal Service Obligation Fund, involves the design, supply, construction, installation, upgradation, and maintenance of BharatNet’s Middle Mile Network. These packages are part of a larger tender comprising 16 packages nationwide, of which 11 have been opened so far.
ITI Ltd is already executing optical fiber network projects worth approximately ₹5,400 crore across Tamil Nadu, Maharashtra, and Gujarat under earlier phases of BharatNet. The company serves as the Project Implementation Agency for MahaNet-I and is handling two packages in Gujarat for the Gujarat Fiber Grid Network Ltd.
The BharatNet initiative aims to provide high-speed broadband connectivity with 100Mbps bandwidth to all 640,000 villages, blocks, and Gram Panchayats across India, focusing on bridging the digital divide between urban and rural areas.