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ITI Share Price: There is chaos in the stock market due to the detection of HMPV virus in India. Despite this, there is one company’s stock which despite this fall is still standing in the market like a rock. The name of this stock is ITI which is a public sector telecom company. ITI’s stock has reached its lifetime high of Rs 544.70 with a jump of about 20 percent in today’s trading.
20 percent jump in ITI in falling market
Shares of ITI opened at Rs 473.40 in the trading session of January 6, 2025, above the previous closing level of Rs 457.10. But there was strong buying in the stock and within no time, ITI’s share crossed Rs 500 and reached its lifetime high of Rs 544.70. Currently the stock is trading at Rs 532.60 with a rise of Rs 74.15 or 16.22 percent.
ITI gave multibagger return in two months
ITI’s stock has seen a strong rise in the last one week. The stock has jumped 40 percent in just a week. On 31st December 2024 i.e. in the last session of last year, the stock had closed at Rs 387. And from this level the stock has jumped by 40 percent and this rise in the stock has come in the four trading sessions of 2025.
On October 25, 2024, ITI’s share was trading at Rs 210 and in today’s session the stock has made a high of Rs 544. That means, in two and a half months, ITI’s stock has jumped by 160 percent. From this level the stock has given strong returns more than double to the investors. The market cap of the company has also reached Rs 50,984 crore. ITI stock is a multibagger stock which has given returns of 416 percent to its shareholders in 2 years and 480 percent in 5 years.
Know the reason for the rise in ITI shares
In the budget to be presented on February 1, 2025, big announcements are possible regarding expansion of broadband service in the country and strengthening of telecom infrastructure, due to which this pre-budget rise in the stock is possible. In November, ITI was the company that bid the lowest rate for three packages of BharatNet Phase 3 project. Under this scheme, there is a plan to expand broadband infrastructure in the country. Also, the company has recently received an order worth Rs 95 crore from the Uttarakhand government, due to which the company will see a jump in its revenue and profits. The company is also expanding in the fields of data centres, cyber security and e-governance.
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