Sep 08, 2012 11:44 AM IST | Source: Moneycontrol.com

ITI surges 10% on Rs 4156-cr revival plan

Shares of state-run ITI, a manufacturer and supplier of telephone and communications equipment and parts, surged 10% on Saturday (a special trading session) as the government said the Department of Telecommunications has prepared a plan worth Rs 4,156 crore for revival of the company.

ITI surges 10% on Rs 4156-cr revival plan

Shares of state-run ITI, a manufacturer and supplier of telephone and communications equipment and parts, surged 10% on Saturday (a special trading session) as the government said the Department of Telecommunications has prepared a plan worth Rs 4,156 crore for revival of the company.

The Board of reconstruction of public sector undertakings is yet to approve the same plan.
 
At 11:35 hours IST, the share was trading at Rs 24.55, up 9.84% and even its trading volumes increased 208% to 2,33,120 equity shares as compared to its 5-day average of 75,666 shares.
 
On Friday, the share rose 2.52% to close at Rs 22.35. Market capitalisation of the company currently stands at Rs 707.04 crore.

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