ITI share price locked in 5% upper circuit; Here's what sparked the rally

ITI share price: ITI share price was in demand on Friday, February 21, 2025, as the scrip was locked in the 5 per cent upper circuit at Rs 284 per share. 

 

The increase in ITI's share price followed the company's announcement that it has received a revised order from the AMRCD. According to the order, ITI is required to transfer its 22.258 acres of land at Electronic City, Bangalore, to C-DoT through a sale deed for a total consideration of Rs 200 crore.

 

As part of the revised AMRCD order, ITI received the first payment of Rs 100 crore from C-DoT on February 19, 2025, in accordance with the executed sale agreement.

 

In an exchange filing, ITI said, “The company has received a revised order from the AMRCD, stipulating that ITI shall transfer its 22.258 acres of land situated at Electronic City, Bangalore to C-DoT through a sale deed for a consideration of Rs.200 crore.”  READ: Religare Share Price jumped 9% today: here's why

 

The remaining balance is expected to be received upon the completion of additional statutory formalities.

 

About ITI

 

ITI Limited is a telecom company and multi-unit central public sector undertaking. It is a total solutions provider in the telecommunications segment. The company has state-of-art manufacturing facilities in six locations including Bengaluru, Naini, Raebareli, Mankapur, Srinagar and Palakkad, coupled with an in-house research and development (R&D) centre in Bengaluru and marketing, sales & projects (MSP) offices spread across the country.

 

The market capitalisation of ITI is Rs 27,289 crore, according to BSE. The ITI share’s 52-week high is Rs 592.85, while its 52-week low is Rs 210.20 per share

 

At 10:09 AM, shares of ITI were trading 3.05 per cent higher at Rs 308.90 per share. In comparison, BSE Sensex was trading 0.31 per cent higher at 82,387.36 levels.