Spanco bags Rs 70 cr contract from Orissa govt

Spanco Telesystems, a system integrator in the telecom segment, today said it has bagged a contract from Orissa Government for rolling out a State Wide Area Network (SWAN) across the state worth Rs 70 crore. Under this contract Spanco, along with ITI will build own and operate a state wide network connecting 30 districts and 284 talukas in Orissa, before transferring it to the state government at the end of five years. At 10:30 am, the company's shares were up 10.9 per cent to Rs 105.80 after soaring to a high of Rs 114 with volume traded at 22,821 against two-week average of 38,167 shares.