Telecom manufacturing company ITI (NSE:ITI, BOM:523610) has bagged a new five-year contract worth 950 million Indian rupees from the Directorate of Geology & Mining, Government of Uttarakhand, India, according to a Monday filing to the stock exchanges.
Under the contract, ITI will be the work agency for development, implementation and maintenance of Mining Digital Transformation and Surveillance System (MDTSS) in the districts of Dehradun, Haridwar, Udham Singh Nagar, and Nainital in Uttarakhand.
The project is aimed at helping the Uttarakhand government to prevent illegal mining and mineral transportation and to increase its revenue in the state.
Shares of the company were up over 1% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.