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The surge in ITI share price came after the company announced that it has secured its first Electronic Voting Machine (EVM) order from the State Election Commission (SEC) of West Bengal.
In an exchange filming, the company said, “ITI Limited, the country’s first PSU post-independence and a premier telecom manufacturing company has bagged its firs EVM order from the SEC of West Bengal for the supply of 500 sets of Electronic Voting Machines after the successful demonstration to the SEC at Kolkata.”
Under the terms of order, ITI will be responsible for the supply of 500 sets of Electronic Voting Machines, the company said.
The indigenous Multi Post EVM, designed and developed by ITI Limited, was crafted in accordance with specifications finalised by the SEC/Technical Evaluation Committee and has been approved by the Standing Committee of State Election Commissioners.
This EVM can be utilised for local body elections across Gram Panchayats, Municipalities, Corporations, or any other democratic institutions. Additionally, it can function as a Single Post machine for Lok Sabha or Assembly elections, the company highlighted.
“ITI Limited is delighted to win its first ever order to manufacture EVMs for State Election Commission (SEC) of West Bengal and we would like to use this opportunity to re-establish ITI Limited as a technology manufacturer to reckon with as we will be joining the elite list of EVM manufacturers in India. ITI Limited is deeply honoured that the devices we will manufacture will empower and enrich the world’s largest democracy, India by providing EVMs for all kinds of democratic elections,” said Rajesh Rai, chairman and managing director, ITI.
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Additionally, the product will be manufactured at ITI Limited’s facilities while adhering to the Election Commission’s technical specifications. It will be delivered on a fast-track basis, meeting all quality standards and fulfilling commitments to the West Bengal SEC, ITI added.
Rai further said that ITI Limited is exploring the business prospects of EVMs with other SECs also so that the company can offer our quality product by meeting the requirements on a pan India basis.
ITI Limited, country’s premier telecom company and multi-unit central public sector undertaking, is a total solutions provider in the telecommunications segment.
The company has state-of-art manufacturing facilities in six locations including Bengaluru, Naini, Raebareli, Mankapur, Srinagar and Palakkad, coupled with an in-house research and development (R&D) centre in Bengaluru and marketing, sales & projects (MSP) offices spread across the country.
At 10:09 AM, shares of ITI were trading 3.05 per cent higher at Rs 308.90 per share. In comparison, BSE Sensex was trading 0.31 per cent higher at 82,387.36 levels.
First Published: Aug 30 2024 | 10:15 AM IST
