ITI shares hit 20 per cent upper circuit on Monday
The telecom stock saw a surge in trading volume as the share price reached an intraday high of ₹259.14.
ITI shares hit a 20 per cent upper circuit during Monday's trading session, according to Mint. The stock opened at ₹216.25 on the NSE, up from the previous close of ₹215.95 on Friday, and reached an intraday high of ₹259.14 on 2 November.
Trading activity for the stock increased significantly, with 13.09 million shares changing hands on the NSE and BSE. This represents 1.35 per cent of the total equity of ITI. The stock has gained 19.18 per cent over the last week and 7.29 per cent over the past month.
Despite the recent rally, the stock has seen a decline of 16.64 per cent year-to-date and 20.19 per cent over the past year. However, the shares have provided returns of 115.23 per cent over a five-year period.
Harshal Dasani, Business Head of INVasset PMS, noted that FY26 revenue dropped 40 per cent to ₹2,184 crore and the business saw an operating loss of roughly ₹156 crore. He stated that the ₹293 crore profit reported was actually derived from ₹832 crore in gains from land sales.
Dasani also mentioned that the June quarter saw ₹425 crore in revenue and a ₹32 crore loss. He noted that while there is an order book of ₹13,900 crore, including ₹6,956 crore under BharatNet, the auditor issued a disclaimer of opinion on FY26 regarding internal controls, inventory, and land titles.