ITI Share Price Settled In The Blues

Iti share price is trading below 5 per cent at Rs. 47.65, down by 5 per cent.

Valiant Communications Ltd has signed a MOU (Memorandum of Understanding) with ITI Limited (an undertaking of Govt, of India), for its technology and product in Defense and Paramilitary.

Also, the union cabinet on Wednesday has given the approval for the Department of Telecommunications's proposal for continuing reservation quota for ITI Limited in procurement made by BSNL, MTNL and Bharat Broadband Network Limited (BBNL). The approval was given by the Cabinet Committee on Economic Affairs (CCEA) in a meeting chaired by Prime Minister Narendra Modi.

As per the Reservation Quota policy, 30 per cent of the procurement orders given by BSNL, MTNL and BBNL will be reserved for ITI Ltd for the products suffered by it and for those outsourced items in which there will be a limited 5 per cent value to be added by it during the year 2016-17 and 8 per cent value addition in 2017-18.

20 per cent of the orders will also be reserved for the state-owned company for the turn key projects such as global system for mobile communication network roll-out of BSNL and MTNL and for national optical fibres network (NOFN) roll-out for BBNL.

The government informed that the public sector unit is going to accept orders under reservation quota only after the price is known and if the same is commercially viable. The policy measures shall remain in force for a period of two years. 

It also informed that it  would be very difficult for ITI to survive on its own without the benefit of reservation quota which BSNL/MTNL has been extending for ITI for the last many years.

At 4.15 AM, ITI share price settled at Rs. 47.45. Throughout the entire day, 4,44,717 shares were traded on the counter with a traded value of Rs. 216.04 lacs.

ITI Share Price Rallied Over 6% Today

ITI share price saw an upward rally of more than 6 per cent since morning today.

At 1 PM ITI share price was trading at Rs 47.85, up by 6.45 per cent or 2.90 points. A total of 9,43,621 shares of the company have been traded on NSE for a total value of Rs 442.56 lacs. The Lower Price Band is 40.50 and the Upper Price Band is 49.40.

ITI is one of the Multibagger stocks picked out of all the top 500 stocks. These Multibaggers are well analysed stocks, based on our technical and fundamental research, traded in very high volumes. As observed, these companies multiply their earnings per share every year. These shares have a great potential to grow with time.

To Read More: https://www.dynamiclevels.com/en/current-news/iti-share-price-170102090740

ITI Share Price On An Upward Spree, Hits New 52 Week High

A surge of close to 8 per cent was seen on the NSE today when ITI share price hit a fresh 52 week high of Rs 53.70. Recently, on 5th December, 2016, the stock had broken its previous one year high. Thereafter, on the 7th December it repeated the stunt by trading at Rs 40.75. Again on 8th December, ITI share price soared as high as Rs 42.15, breaking its previous day’s record high. On Friday, on 9th December 2016, the stock traded at a new high of Rs 44.80.

At 2:21 pm, a massive total of over 34 lac shares had changed hands on the NSE counter having a traded value of Rs 1798.56. The lower price band stood at Rs 44.10 while the upper price band read at Rs 53.90. The stock opened at Rs 49.

Important Fundamentals of the stock:

The company is consolidating its diversification into ICT - Information and Communication Technology to hone its competitive edge in the convergence market by deploying its rich telecom expertise and vast infrastructure.

ITI is a multibagger stock for this quarter as recognized by Dynamic Levels, based on their technical and fundamental research it is seen to have traded in very high volumes. Multibagger stocks have a great potential to grow in the long run.

In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to ITI share price history.