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ITI gains on partnering with IESA to set up electronics system design manufacturing ecosystem

ITI is currently trading at Rs. 84.30, up by 0.60 points or 0.72% from its previous closing of Rs. 83.70 on the BSE.

The scrip opened at Rs. 84.05 and has touched a high and low of Rs. 84.40 and Rs. 83.75 respectively. So far 7037 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 116.80 on 17-Jan-2019 and a 52 week low of Rs. 56.15 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 87.70 and Rs. 81.45 respectively. The current market cap of the company is Rs. 7507.89 crore.

The promoters holding in the company stood at 90.00%, while Institutions and Non-Institutions held 7.79% and 2.22% respectively.

ITI has signed a Memorandum of Understanding (MoU) with India Electronics & Semiconductor Association (IESA), a not-for-profit industry body that works towards enhancing and promoting made-in-India products for world markets.

Under the MoU, the company will provide its infrastructure to manufacture electronic products with special focus on telecom and allied smart electronic products. The MoU envisages setting up of infrastructure to enable ITI develop intelligent electronics ecosystem in the country inclusive of product design, development and manufacturing with a focus not limited to areas such as Telecom, Internet of Things, Smart Cities, Smart Manufacturing, Smart Agriculture and others.

ITI offers products and services in the telecom sector. The company has a range of telecom products and total solutions covering the whole spectrum of switching, transmission, access and subscriber premises equipment.

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