ITI Limited’s share price hit a 10% lower circuit today after the NSE and BSE sought clarification regarding a dramatic 40% rally over the past two trading sessions. This sharp correction followed consecutive upper circuits of 20% on each of the previous two days, which had propelled the stock to new highs. The PSU stock opened on a strong note at ₹575.15 on the NSE, compared to its previous close of ₹544.35, and surged to a fresh 52-week high during early trading. However, the sharp gains were short-lived as intense profit booking ensued, pushing the stock to its lower circuit limit of ₹489.95, reflecting a 10% decline. Despite the halt in trading, market activity remained robust, with approximately 2.10 crore shares exchanging hands before the circuit was triggered. The dramatic volatility highlights heightened investor interest in ITI, potentially fueled by speculation and recent developments, while also raising concerns among regulators about the stock’s rapid movement and underlying factors driving the surge.
About ITI Ltd
ITI Limited is an Indian company engaged in manufacturing, trading, and servicing telecommunication equipment, along with providing various associated and ancillary services. The company produces a range of telecom equipment, including electronic switching exchanges, transmission equipment, microelectronics, and telephone instruments. Its electronic product portfolio extends to Digital Mobile Radio systems, smart energy meters, mini personal computers, Smaash laptops, 3D printing, and bank automation products, among others. ITI also offers traded products such as Optical Transport Network equipment, managed leased line network products, signaling point network solutions, IP/MPLS routers and switches, and network management system solutions. The company operates six manufacturing facilities across India, located in Bengaluru (Karnataka), Naini (Uttar Pradesh), Rae Bareli (Uttar Pradesh), Mankapur (Uttar Pradesh), Palakkad (Kerala), and Srinagar (Jammu and Kashmir), with a network system unit based in Bengaluru.
