ITI Ltd (NSE: ITI) Share Price: Telecom equipment maker ITI Limited is pleased to announce that it has been awarded its first shipment of Electronic Voting Machines (EVM).
After a demonstration in Kolkata, the company received an order for 500 EVM sets from the Election Commission of West Bengal.
In the wake of this announcement, ITI share is on the rise. In the initial trading session, it was trading around Rs 310, a jump of over 3 percent.
The share of ITI was traded at Rs 313 on the NSE and then climbed to Rs 315.50 in just a few minutes.
According to the stock exchange’s filing the ‘Multi Post EVM’ was designed and created by ITI.
According to the guidelines that were approved in the SEC/Technical Standing Committee and approved by the state standing committee of elections commissioners.
Delivery Will Be On A Fast-track Basis
The EVMs are manufactured in ITI factories using quality standards that are in line with the requirements of the Election Commission.
They will be shipped speedily the promises made by the SEC of West Bengal.
Where Will These EVMs Be Used?
Multi-post EVMs may be used to conduct municipal elections in Gram Panchayats, Municipalities, Corporations, or any other entity that requires democratic elections.
Electronic voting machines can be utilized as single-post devices to fulfill the needs in Lok Sabha or Vidhan elections in Sabha.
Rajesh Rai, Chairman and Managing Director of ITI stated that ITI is delighted to have received the first order for manufacturing EVMs to be used by the State Election Commission of West Bengal.
They’d like to take this opportunity to establish ITI Limited as an innovator in technology. In addition, they will join the top list of EVM producers in India.
Quick Fact
| Company name | ITI |
|---|---|
| Order received | 500 EVM sets |
| Client | Election Commission of West Bengal |
| EVM type | Multi Post |
| Production site | ITI factories |
| EVM use | Municipal, Gram Panchayats, Municipalities, Corporations, Lok Sabha, Vidhan Sabha |
| Current stock price | ₹303.70 |
| Time for delivery | Fast-track |
| CMD | Rajesh Rai |
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