President of India’s Portfolio Gains 53,20,90,97,728 From This Multibagger Telecom Stock; Jumps Over 18 Per Cent On December 30
The stock is up by 85.3 per cent from its 52-week low of Rs 210.20 per share.
On Monday, one of the Top Gainers on BSE, shares of ITI Ltd gained 61.55 points or 18.77 per cent to an intraday high of Rs 389.55 per share compared to the previous closing of Rs 328 per share. The shares of the company saw a spurt in volume by more than 5.52 times on BSE.
ITI Ltd, a telecommunications company owned by the Indian government, manufactures and sells telecom equipment (including telephones and energy meters), offers services like manufacturing for other companies and equipment testing, and also tackles large-scale projects for internet access, defence communication and more.
ITI Limited has secured a Rs 95 crore contract from the Uttarakhand government to implement a Mining Digital Transformation & Surveillance System (MDTSS). This project aims to curb illegal mining and boost state revenue. ITI will develop, implement, and maintain the MDTSS across four districts, installing advanced surveillance systems at 40 check gates. The systems will include bullet cameras, RFID radars, and LED floodlights. A state control centre and mini-command centres will be established for real-time monitoring. This follows ITI's recent success as the lowest bidder for a portion of the BharatNet Phase-3 Project, valued at Rs 4,559 crore.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
The company has a market cap of over Rs 36,000 crore. As of September 2024, the promoters (President of India & Government of Karnataka) own a 90 per cent stake and the public owns a 26.59 per cent stake. In just 1 day, the President of India’s portfolio gains 53,20,90,97,728 from this multibagger telecom stock (86,47,98,247 shares x Rs 61.55 per share [at intraday high]). The stock is up by 85.3 per cent from its 52-week low of Rs 210.20 per share and gave multibagger returns of 265 per cent in 2 years. Investors should keep an eye on this mid-cap telecom stock.
Disclaimer: The article is for informational purposes only and not investment advice.