ITI shares soar 40% in 1 week amid heavy volumes

[hfe_template id='11223'] [ad_1]
Shares of ITI Ltd, a public sector telecommunications giant, surged as much as 9.4% to Rs 403.75 on the BSE, marking the third straight session of gains on Tuesday. This rally extends a remarkable one-week climb of over 40%, fueled by soaring trading volumes and renewed investor interest.

The rally comes on the back of strong business developments. On November 19, ITI secured a Rs 95 crore contract from the Directorate of Geology & Mining, Government of Uttarakhand, for its Mining Digital Transformation & Surveillance System (MDTSS) project. Under this deal, ITI will develop, implement, and maintain the MDTSS across 40 check gates in key districts, including Dehradun and Haridwar.


Earlier in November, ITI emerged as the lowest bidder for three packages of the BharatNet Phase 3 project, valued at Rs 4,559 crore. BharatNet Phase 3 aims to expand India’s broadband infrastructure, and ITI will manage tasks including design, supply, and maintenance under a Design-Build-Operate-Maintain (DBOM) model.

Beyond recent contracts, ITI Limited has been a cornerstone in building India's telecom infrastructure. Its portfolio spans optical fiber cables, 4G and 5G network equipment, encryption solutions, and smart cards. ITI also delivers secure communication services for defense and strategic sectors while expanding into data centers, IoT, e-governance, and cybersecurity.


The company, which was established in 1948 under the Ministry of Communications, has seen an equally robust financial performance, with a staggering 312% year-on-year jump in net sales for the quarter ended September, reaching Rs 1,016.20 crore.

Also read | Hyatt-owner Juniper Hotels' shares can rally up Rs 450, says JM Financial as it initiates a ‘Buy’ rating

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
[ad_2] Source link https://mrgaga.in/iti-shares-soar-40-in-1-week-amid-heavy-volumes/?feed_id=45109&_unique_id=6757f006d6fc7

Comments

Post a Comment

Popular posts from this blog

India VIX jumps 100% in one month. Could fear levels take Nifty further down?

Image
[hfe_template id='11223'] [ad_1] Volatility in Indian equity markets has surged sharply over the past month, with the India VIX nearly doubling as geopolitical tensions and global uncertainty triggered aggressive selling in equities. India VIX, often referred to as the market’s fear gauge, has jumped close to 100% over the past month, reflecting growing nervousness among investors. The spike has coincided with a sharp correction in the broader market, with the Nifty 50 declining about 8% during the same period. The escalation of tensions involving the United States, Israel and Iran has intensified market anxiety in recent days, pushing crude oil prices sharply higher and triggering a global risk-off sentiment. However, analysts note that volatility had already been building even before the conflict escalated, reflecting broader concerns around global growth, foreign capital outflows and stretched valuations in equities. The heightened uncertainty translated into a sharp ...
Read more

Can Sensex, Nifty snap 2-day fall on Monday? 7 factors that could decide market mood this week

Image
[hfe_template id='11223'] [ad_1] Benchmark indices Sensex and Nifty ended the week on a bearish note, closing over a percent lower each as a deepening selloff in IT stocks rattled investor sentiment amid mounting fears of AI-led disruption. Further, stronger-than-expected jobs data for January dampened hopes of a US Fed interest rate cut. Here are 7 factors that could decide market action in the coming week: 1.) Infosys, Wipro ADRs rebound - After a brutal two-day selloff that saw Infosys and Wipro ADRs plunge as much as 14.5%, Friday’s session brought a much-needed breather. Bargain hunting kicked in at lower levels, sparking a sharp rebound as Infosys climbed 3% while Wipro gained 4%—helping both stocks close the week on a far stronger note. International brokerage firm JP Morgan has a message for panic-stricken investors: IT services firms are the indispensable "plumbers of the tech world" and their dividend yields have now hit levels last seen only during ...
Read more

Waaree Energies shares in focus after Q4 profit rises 34% to Rs 619 crore, revenue up 36%

Image
[hfe_template id='11223'] [ad_1] Waaree Energies shares will be in focus on Wednesday after the solar panel maker reported a strong Q4 performance, with net profit rising 34.1% year-on-year (YoY) to Rs 618.9 crore for the quarter ended March 31, 2025. In the same quarter last year, the company had reported a profit of Rs 461.5 crore. Revenue from operations jumped 36.4% to Rs 4,003.9 crore, up from Rs 2,935.8 crore in the year-ago period, according to the company’s regulatory filing. EBITDA more than doubled to Rs 922.6 crore in Q4 FY25, up 120.6% from Rs 418.3 crore in the same quarter last year. The EBITDA margin improved to 23% from 14.3% a year ago. The company produced 2.06 GW of solar modules in the fourth quarter, up from 1.35 GW in the same period last year. For the full year, module production reached 7.13 GW, compared to 4.77 GW in FY24. For the full financial year FY25, revenue rose 27.62% YoY to Rs 14,846.06 crore. Profit after tax more than doubled to Rs 1,9...
Read more