ITI share price hit 5% upper circuit on Wednesday despite the fall in the broader Indian stock market after the RBI policy announcement. The rally in ITI share price comes after the company announced the initiation of the State Network Operations Center (S-NOC) for BharatNet Phase-III Project in Himachal Pradesh. ITI shares spiked as much as 5% to ₹254.85 apiece on the BSE.

The state-run telecom manufacturing company ITI Limited said that it commenced the work for State Network Operations Center (S-NOC) of the monumental BharatNet Phase-III Project at Solan in Himachal Pradesh in coordination with BSNL.

“S-NOC is a centralized location where ITI Limited will monitor and manage the performance, security, and availability of project’s network infrastructure, ensuring efficient delivery of services,” ITI said in a release on April 9.

Key details of the project

In November 2024, ITI Limited had emerged as L1 for BharatNet Phase-III Project in the states of Himachal Pradesh for Package No. 8, and in West Bengal, and Andaman & Nicobar Islands for Package No. 9 with total order value of ₹5,050 crore.

This Project is envisaged for the Development of Middle Mile Network of BharatNet Project on a Design Build Operate and Maintain (DBOM) Model and is funded by Universal Service Obligation Fund (USOF), Government of India, the company said.

The project will be implemented by ITI Limited in Himachal Pradesh and under this scheme, 3,615 gram panchayats will be connected to 91 block headquarters via 10 Gbps bandwidth, which will be connected to the BSNL IP-MPLS Ring Network.

This connectivity will be extended to 15,538 villages across the state. Approximately 20,000 kilometers of optical fiber cable (OFC) will be laid in across Himachal Pradesh for this project, said the company.

ITI Stock Price Trend

ITI share price has declined over 5% in the past one month and more than 42% over the last three months. On a year-on-year basis, the ITI stock is down approximately 5%. However, from a long-term perspective, ITI shares have delivered strong returns. Over a two-year period, the PSU stock has surged 177%, and over the past five years, it has gained 248%, delivering multibagger returns to investors.  

At 12:05 PM, ITI shares were trading 4.55% higher at ₹253.80 apiece on the BSE.

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