Tuesday, December 10, saw the ITI share price surge nearly 10% to reach a new all-time high of ₹404 on the NSE, continuing to see strong buying demand for the third straight session. The ITI share price began at ₹385, up 9.8% from its previous close of ₹368.10, and reached a record high of ₹404. The stock was up 7.42% at ₹395.40 a share on the NSE at 10:30 a.m. At that time, the stock’s total market capitalization was close to ₹38,000 crore.
ITI’s stock increased by 15% during the last session and by more than 13% the day before.
In just three days, including today, the public sector undertaking’s shares have increased by around 42%. On October 25 of this year, the PSU stock fell to a 52-week low of ₹210, but it has since experienced strong gains. With a high of ₹404 today, the stock has increased by more than 92% in less than two months.
In terms of the month, the stock has risen 38% so far in December after gaining 27% in November, which ended the previous three months of losses.
Over the last six months, the stock has increased by 34%, and over a longer period of three years, it has increased by 235%.
ITI: Overview
Founded in 1948, ITI is a PSU in the telecommunications technology sector. The company’s website states that it has 25 Marketing, Services & Projects (MSP) centres in India, including in Bengaluru, Bhubaneshwar, Chennai, Hyderabad, Kolkata, Lucknow, Mumbai, New Delhi, and 17 other locations, as well as manufacturing facilities in Bengaluru, Naini, Rae Bareli, Mankapur, and Palakkad, as well as an R&D centre in Bengaluru.
The business produces a wide variety of ICT (information and communication technology) goods and services. In order to provide solutions in a variety of industries, it is expanding its offerings to include turnkey project execution, IOT, smart cities, and other related telecom goods and services.
The company’s top line increased by 32.3% year over year (YoY) in Q2FY25. The quarter’s reported loss was ₹70.33 crore, which was 44.19 per cent less than the same period the previous year.
