ITI Share Price Falls Sharply After Gaining 37% In Three Sessions

ITI share price fell over 7% after hitting its lifetime high of Rs 404 on Tuesday. Today's fall came after the stock gained 37% in its three-day rally.

The exchange had sought clarification from the company on Tuesday with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded.

The reply for this clarification is awaited. Volumes also rose significantly. So far in the session, 98.3 lakh shares of the company changed hands on the NSE as against its one-year average volume of 51.4 lakh shares.

ITI share price fell as much as 7.34% to Rs 361.30 apiece, as of 12:35 PM on Wednesday.

It has risen 19.6% on a year-to-date basis. Total traded volume so far in the day stood at 0.39 times its 30-day average. The relative strength index was at 68.9.

The stock had hit a 52–week low of Rs 210 apiece on Oct. 25. ITI had total 96.09 crore shares outstanding as of Sept. 30, according to data on National Stock Exchanges. Of the total, promoters handle 90% and rest 10% is owned by public.