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ITI Ltd. Stock Soars 23% in Three Days, Hits Record High

ITI Ltd., a key player in the telecommunications technology sector, has experienced a sharp rise in its share price, gaining 23.07 per cent over the last three trading sessions.

ITI Ltd. Stock Soars 23% in Three Days, Hits Record High

ITI Ltd. Stock Soars 23% in Three Days, Hits Record High
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11 Dec 2024 IST

On Monday, the stock surged by over 17 per cent to touch an all-time high, continuing its upward trajectory without any apparent business or news-based catalyst driving the rally.

On Tuesday, ITI Ltd.’s share price climbed nearly 10 per cent, reaching a new peak of Rs 404.00 apiece during intraday trading. By 10:45 a.m., the stock was trading 7.65per cent higher at Rs 396.40 per share, outperforming the NSE Nifty 50, which edged up by a marginal 0.04 per cent.

The stock has demonstrated a robust performance in recent sessions. On Friday, it surged by 19.96 per cent to Rs 340.10 per share, followed by a 17.26 per cent jump to Rs 376.65 on Monday. By the end of Monday’s session, the stock settled at ₹368.10, marking a 14.60 per cent increase.

Over the past year, ITI Ltd.’s share price has risen 32.71 per cent. On a year-to-date basis, it has delivered a return of 30.13%. The stock, which hit a 52-week low of Rs 210 on October 25, has shown significant recovery. As of 10:45 a.m. Tuesday, the company’s market capitalization stood at Rs 37,825.31 crore, reflecting an increase of Rs 2,455 crore from earlier levels.

According to data from the National Stock Exchange as of September 30, ITI Ltd. has 96.09 crore shares outstanding. Of these, 90 per cent are held by promoters, while the remaining 10 per cent are in public hands. The total trading volume on Tuesday was approximately 5.9 times the stock's 30-day average, indicating heightened investor interest. The relative strength index (RSI) for the stock reached 80.52, signaling that it may be overbought.

ITI Ltd., originally known as Indian Telephone Industries, was founded in 1948 as a departmental factory. The company specializes in telecommunication technology and offers a wide range of products catering to internet services, telecommunications, and defense communication needs.

ITI Ltd. Stock Hits record Business Robust performance Share Price National Stock Exchange Investor interest Indian Telephone Industries Internet services telecommunications Defense communication 
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