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ITI Share Price: On Tuesday, 10 December, ITI share price witnessed a strong rally for the third consecutive session. It jumped by almost 10 percent on NSE. This took it to a new all-time high of Rs 404. ITI's share price opened at Rs 385 against the previous close price of Rs 368.10 and rose 9.8 percent to reach its record level of Rs 404. However, there was a slight decline in the stock after that. At around 2.30 pm, it is at Rs 387.55 on NSE , up by Rs 19.45 or 5.28 percent. The market cap of the company at this time is Rs 37,114 crore.
What is the reason for the boom in ITI?
ITI's stock has rallied over 40% in a week, driven by rapidly rising trading volumes and investor interest. Strong business development is also a reason for the rally. On November 19, ITI secured a Rs 95 crore contract from the Directorate of Geology and Mining, Government of Uttarakhand, for its Mining Digital Transformation and Monitoring System (MDTSS) project.
Under this contract, ITI will develop, implement,t and maintain MDTSS at 40 check gates in major districts including Dehradun and Haridwar.
What is the business of ITI?
ITI manufactures a diverse range of Information and Communication Technology (ICT) products/solutions. It is diversifying towards IoT, Smart City, and other related telecom products and services.
