ITI trades in 5% upper circuit on ₹200 Crore AMRCD order

21 Feb 2025 , 11:23 AM

The shares of ITI Limited zoomed as much as 5% to hit upper circuit of ₹284 on BSE in its intraday session on Friday. This was after the company received a revised order from AMRCD for transfer of 22.258 acre of land for ₹200 Crore.
The land parcel of 22.258 acres is situated at Electronic City, Bangalore.
Additionally, under the terms of agreement, ITI Limited has already received the first tranche of ₹100 Crore from C-DoT on February 19, 2025.
The company expects the remaining consideration for this sale shall be received after the completion of other statutory formalities by the company, stated the company in its filing with the bourses.
Over the last year, the share price of ITI Limited fell by 9.77%. On the other hand, the year-to-date (YTD) change reflects a significant decline of 25.66%.
In the last six months, the stock witnessed a decline of 4.51%, whereas over the three-month period, it registered a marginal increase of 2.49%. In addition to this, the company witnessed a decline of 22.45% over the last month.
At around 11.18 AM, ITI Limited was trading 5% higher at ₹282.65, against the previous close of ₹269.20 on NSE.
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