ITI signs MoUs with three enterprises to propel 5G technology adoption in India
The company has formalised a strategic collaboration with Lekha Wireless, Niral Networks, and InstaICT Solution aimed at driving the adoption of 5G technology in India.
About the MoU
ITI has signed Memorandums of Understanding (MoU) with Lekha Wireless, Niral Networks and InstaICT Solution to create and manage the entire Private 5G ecosystem for an enterprise, i.e. plan, design, deploy, implement and manage. The company has formalized a strategic collaboration with Lekha Wireless, Niral Networks, and InstaICT Solution aimed at driving the adoption of 5G technology in India. The MoUs signify the beginning of a significant partnership between these niche entities in the telecommunications sector.
Under the terms of the MoUs, ITI will collaborate with Lekha Wireless, Niral Networks, and InstaICT Solution on implementing 5G Private (Captive & Non-Captive) Network Solutions within ITI. This collaboration underscores the commitment of the organisations to leverage advanced technology for the enhancement of telecommunications infrastructure in India.
Company profile
ITI, the country’s premier telecom company and multi-unit central public sector undertaking, is a total solutions provider in the telecommunications segment. The company is engaged in manufacturing, trading and servicing of telecommunication equipment, and rendering other associated and ancillary services.
Stock price movement
On Monday, ITI Ltd shares closed at Rs 317.55, up by 0.89% from its previous closing of Rs 314.75 on the BSE. Today, the stock opened at Rs 314.75 and has touched a high and low of Rs 322.50 and Rs 309.50 respectively. The BSE group ‘A’ stock of face value of Rs 10 has a 52-week high and low of Rs 384.35 and Rs 86.50, respectively. Last one week high and low of the scrip stood at Rs 334.90 and Rs 305.75 respectively. The current market cap of the company is Rs 30,512.96 crore.
The promoters holding in the company stood at 90.28%, while Institutions and Non-Institutions held 7.73% and 1.99% respectively.
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