ITI shares dive 7% as profit booking seeps in from record high

Driven by strong trading volumes, ITI stock clocked in gains of around 34 percent in the past three sessions that took it to a record high of Rs 404 in the previous sesssion.

Moneycontrol News

December 11, 2024 / 12:04 IST

ITI stock has been witnessing strong trading volumes in the last three sessions.

26 Aug, 2025 12:21

Volume

Todays L/H

Shares of ITI witnessed strong selling pressure and plunged 7 percent on December 11 as investors rushed to book profits off the stock after its stellar upmove in the last three sessions. Driven by strong trading volumes, the stock clocked in gains of around 34 percent in the past three sessions that took it to a record high of Rs 404 on Tuesday, leaving ample room for investors to take cash out partial profits.

Accordingly, at 11.26 am, shares of ITI were trading at Rs 363.80 on the NSE. Aside from the stellar surge in the stock in the last three trading sessions, it has also raked in gains of over 24 percent in the past three months.

The company also announced a slew of positive developments in the past month which further bolstered investor sentiment around the stock.

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Firstly, in early-November, the company emerged as the lowest bidder for three packages of the BharatNet Phase-3 project, valued at Rs 4,559 crore. BharatNet Phase-3, comprising 16 packages across all states and union territories, involves the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network under a Design Build Operate and Maintain (DBOM) model, as tendered by BSNL.