ITI shares jumped over 5 percent on Wednesday morning on reports that Microsoft was in talks with the public sector firm to use its large data center for Azure cloud services and tap the growing opportunity in government contracts in the country.
The scrip hovered at Rs 96.65 up 5.23 percent at around 09:37 am while the benchmark BSE Sensex was up 0.76 percent at 35,622.74.
“ITI is building a 1,000-rack data center in the city, as it looks to leverage the land in its Bengaluru campus,” ITI chairman K Alagesan told.
Microsoft will have a local cloud service partner to engage with ITI for the Azure cloud services, Alagesan added.
Meanwhile, the shares of ITI opened at Rs 95 on BSE against its previous closing of Rs 91.85.―India Finance News