Telecom PSU Stock ITI Up 20% In Over A Week As BSNL Accelerates 5G Push

Public sector telecom company ITI Ltd. share price has jumped nearly 20% in over a week as its major client Bharat Sanchar Nigam Ltd. plans to accelerate transition to 5G in the country.

The indigenously developed 4G network of Bharat Sanchar Nigam Ltd. will be upgraded to 5G in the next six-eight months, Telecom Minister Jyotiraditya Scindia recently said.

The minister said that India has entered into the club of 4G technology, which was dominated by just five companies in the world -- Huawei, ZTE, Samsung, Nokia and Ericsson -- based out of four countries -- Sweden, Finland, South Korea and China.

"Today, India has entered the club with its own 4G standard. This is India's innovation capability and innovation enterprise. But we are not going to rest. Within the next six to eight months, we will be switching these 4G towers to 5G networks and providing end-to-end 5G network capability across the length and breadth of India," Scindia said.

ITI offers a complete range of telecom products covering the whole spectrum of switching, transmission, and access and subscriber premises equipment. It has state-of-the-art manufacturing facilities in Bengaluru, Naini, Raebareli, Mankapur, Srinagar and Palakkad along with an in-house R&D centre in Bengaluru and marketing, sales and projects offices spread across the country.

The company has received Rs 3,000 crore from the government as part of a revival plan.