ITI Limited, a public sector undertaking in the telecommunications technology segment has signed a Memorandum of Understanding (MoU) with the Department of Telecommunications, Ministry of Communications, Government of India for the year 2019-20. The MoU was signed by Smt. Aruna Sundararajan, IAS, Telecom Secretary and Chairman (Telecom Commission), Department of Telecommunications and Shri K. Alagesan, Chairman and Managing Director, ITI Limited in the presence of senior officials from Department of Telecommunications at Sanchar Bhawan, New Delhi.
The MoU envisages to achieve turnover and profit for the company for the year 2019-20 by giving greater thrust towards manufacturing of telecommunication equipment's and other emerging technology products in the Broadband, Internet of things etc. The MoU also focuses to drive the Make in India and Digital India initiatives of the Govt of India.
The MOU exercise is an annual and mandatory feature for all Central PSEs where the performance parameters are fixed between the CPSE and the Administrative ministry, before the financial year.
Shares of ITI LTD. was last trading in BSE at Rs.93.3 as compared to the previous close of Rs. 93.8. The total number of shares traded during the day was 211249 in over 1952 trades.
The stock hit an intraday high of Rs. 97 and intraday low of 92.1. The net turnover during the day was Rs. 20128262.