The price of ITI shares continued to see tremendous purchasing activity on Tuesday, December 10, as they surged nearly 10% to reach a new all-time high of ₹404 on the NSE for the third straight session. At a record high of ₹404, the price of ITI shares jumped as much as 9.8% from its previous closing of ₹368.10 to open at ₹385. At approximately 10:30 am, the stock was up 7.42% on the NSE, trading at ₹395.40 per share. In those days, the stock’s total market value was close to ₹38,000 crore. ITI’s stock rose more than 13 percent the day before and 15 percent in the prior day.
ITI stock has risen about 42% in just three days, including today’s advance. Earlier this year, the ITI shares fell to a 52-week low of Rs 210 on October 25, but have since rallied significantly. Taking today’s all-time high of Rs 404 into consideration, the stock has returned more than 92% in less than two months.
The stock has increased 38% so far in December on a month-over-month basis, following a 27% gain in November. Over the past three years, the public sector stock has increased by 235%, and also by 34% in the last six months.
ITI Business Overview
ITI was founded in 1948 as a PSU in the telecommunications technology sector. On its website, the company states that it has 25 Marketing, Services & Projects (MSP) centers 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 center 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 percent less than the same period the previous year.