Bumper buying in ITI shares, price jumped 20%; felt upper circuit – INA NEWS
ITI Stock Price: Shares of ITI Limited, a government company in the telecom equipment and accessories sector, rose by 20 percent on January 3 and hit the upper circuit. Along with this, the stock also created a new high of 52 weeks. The stock opened with gains at Rs 385 on BSE in the morning. After this, due to bumper buying, the price jumped by 20 percent to a high of Rs 457.25 and the upper circuit was hit. This is a new 52-week high for the stock.
The 52-week low of Rs 210.20 was seen on October 25, 2024. ITI share price on BSE has risen 46 percent in one year. The stock has become 39 percent stronger in just one week. The government held 90 percent stake in the company till the end of September 2024. The market cap of the company is around Rs 44000 crore.
Shares strengthened by 335 percent in 2 years
ITI comes under the Department of Telecommunications of the Ministry of Communications. The company’s shares have been rising continuously since October 2024. It has seen a growth of 335 percent in 2 years. The lower price band for the stock on BSE is Rs 304.85 with 20 per cent circuit limit.
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According to data available on BSE, ITI’s standalone revenue in the July-September 2024 quarter stood at Rs 1,016.20 crore. Meanwhile, the company recorded a net loss of Rs 70.10 crore. In FY2024, revenue was recorded at Rs 1,263.63 crore and net loss at Rs 569 crore.
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Bumper buying in ITI shares, price jumped 20%; felt upper circuit
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