ITI shares hit 52-week high on laptop, micro PC launch
Shares of state-owned Indian Telephone Industries (ITI) hit a 52-week high on Tuesday, gaining over 20% after the company announced the launch of its own branded laptop and micro personal computer (PC) under the brand name SMAASH.
The company said that the SMAASH laptop and micro PC have been developed in partnership with Intel.
ITI Chairman and Managing Director Rajesh Rai said that the company is “very elated” to have developed its own branded laptop and micro PC. He said that the products are being well-received and are helping the company win tenders in competitive markets.
ITI said that more than 12,000 SMAASH PCs have already been deployed and are successfully performing at various customer sites. The company has also recently won two tenders from Kerala Infrastructure and Technology for Education, and has supplied around 9,000 laptops to the government schools in Kerala.
The company said that the micro-PC developed by it in particular has less carbon footprint and is “highly compatible with solar solutions since they take DC input.”
On the NSE, ITI shares were locked in an upper circuit at Rs 149.30, up Rs 24.85, or 19.97%.
The company’s shares had fallen 5.42% in the April-June quarter, with revenue from operations declining to Rs 157 crore. The company’s losses for the quarter widened to Rs 103 crore from Rs 99 crore in the same period a year ago.
ITI is a public sector company under the Ministry of Communications. The company is engaged in the business of development and manufacturing a wide range of telecommunications equipment and services including switches, routers, and network infrastructure.
Here are some key takeaways from the article:
- ITI shares hit a 52-week high on the back of the launch of its own branded laptop and micro PC.
- The products have been developed in partnership with Intel.
- More than 12,000 SMAASH PCs have already been deployed and are successfully performing at various customer sites.
- The company has also recently won two tenders from Kerala Infrastructure and Technology for Education.
- The micro-PC developed by ITI has less carbon footprint and is compatible with solar solutions.
- The company’s shares had fallen in the April-June quarter, with revenue from operations declining.
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