ITI Snaps 4-Day Winning Streak
Share prices of ITI Ltd., fell as much as 5 percent on April 25, 2017, snapping its four-day winning streak. Trading volumes are as low as 0.9 times its 20-day average on the National Stock Exchange.
ITI Ltd., is a government-promoted company which manufactures telecommunication products. Its customers include defence, railways and oil companies. Government of India owns 94.86 percent stake in the company.
Though it is a closely held stock, it has been the top performer on the S&P BSE Telecom Index gaining as much 125 percent year-to-date (YTD) and more than 290 percent in the last 12-months.
ITI has reported a 16 percent rise in its revenue to Rs 828.7 crore and 10 times jump in its net profit coming in at Rs 136 crore for the nine-month ended December 2016. ITI currently trades at 26.2 times its trailing 12-month price-to-earnings ratio.
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