ITI Share Price Rises 5% Amid Market Volatility as BharatNet Phase-III Operations Begin

Market Overview

Despite fluctuations in the broader Indian equity indices following the Reserve Bank of India’s latest policy update, ITI Share Price saw a significant upward movement on Wednesday. The stock touched its 5% upper circuit limit, trading at ₹254.85 per share on the BSE.

Key Update

The rise in ITI's Share Price coincided with the company's announcement regarding the commencement of the State Network Operations Center (S-NOC) for the BharatNet Phase-III initiative in Himachal Pradesh. The project is being executed in collaboration with Bharat Sanchar Nigam Limited (BSNL) and marks a significant milestone in ITI Limited’s involvement in nationwide digital infrastructure development.

Project and Operations

According to the announcement being made on April 9, the S-NOC established in Solan, Himachal Pradesh, will serve as a centralized facility to oversee the network performance, ensure security, and maintain uninterrupted availability for the BharatNet Phase-III network infrastructure.

In November 2024, ITI Limited secured the lowest bidder (L1) position for BharatNet Phase-III packages. These include:

• Package No. 8: Himachal Pradesh
• Package No. 9: West Bengal and Andaman & Nicobar Islands
• Total Project Value: ₹5,050 crore

This project phase is supported by the Universal Service Obligation Fund (USOF), managed by the Government of India. ITI Limited will implement the initiative using the Design Build Operate and Maintain (DBOM) model, focusing on creating the Middle Mile Network.

In Himachal Pradesh, the scope of the project includes:

• Connection of 3,615 gram panchayats to 91 block headquarters
• Use of 10 Gbps bandwidth
• Integration with the BSNL IP-MPLS Ring Network
• Extension of connectivity to 15,538 villages
• Installation of approximately 20,000 kilometres of optical fibre cable across the state

Company Performance

ITI Share Price Trend

• 1-Month Change: Down over 5%
• 3-Month Change: Declined more than 42%
• Year-on-Year: Approximately 5% lower
• 2-Year Performance: Increased by 177%
• 5-Year Growth: Gained 248%

At 12:05 PM on April 9, ITI shares were trading 4.55% higher at ₹253.80 per share on the BSE.

Conclusion

The recent rise in ITI Share Price is closely aligned with the company’s operational progress in the BharatNet Phase-III Project. The launch of the S-NOC highlights ITI Limited’s continuing role in enhancing digital connectivity infrastructure, particularly in rural and underserved regions.