State-Run ITI Develops Own-Branded PCs, Wins Many Orders; Stock Jumps 20%

State-run ITI Ltd on Monday said it has developed its own branded laptop and micro PC of global quality standards and has won many orders for the same competing against MNC brands.

The central PSU has designed both products, branded as SMAASH, in association with Intel Corporation with which an MOU has been signed for design and manufacturing, ITI said in an exchange filing. The products are equipped with i3, i5, i7 and other microprocessor series of Intel Corp.

Following the announcement, ITI shares surged 20 per cent to settle at Rs 149.40 apiece -- its upper price band as well as a 52-week high level, on the BSE. On the volume front, 14.29 lakh shares changed hands on BSE.

On NSE, ITI shares surged by around 20 per cent to settle at a 52-week high of Rs 149.30. More than 1.81 crore shares changed hands on the bourse.

"Branded as ‘SMAASH’, the products have already been deployed in the market, and ITI Limited has won many tenders competing against MNC brands like Acer, HP, Dell and Lenovo," ITI said.

"ITI Limited has recently won two tenders from KITE- Kerala Infrastructure and Technology for Education and has supplied around 9,000 laptops to the government schools in Kerala," it added.

The company said that more than 12,000 SMAASH PCs have been deployed and are successfully performing at various customer sites.

"One of the solutions that ITI Limited offers is the SMAASH PCs with solar solutions. The SMAASH PCs are highly compatible with solar solutions since they take DC input," the company said.

Their Micro PC is a 'green' solution product which consumes less power as compared to conventional PCs, is of small size, has no moving parts like fan, and has a long life - hence reducing electricity, cost, and workspace.

ITI Chairman and Managing Director Rajesh Rai said, "It is indeed a challenging task to win tenders competing with MNCs who have global reach and deep pockets. We have to continuously innovate not only with technology but also with our business model and SMAASH delivers every time."

The Indian government recently restricted the import of laptops, with Union Minister for Commerce and Industry Piyush Goyal citing security concerns behind the decision.