ITI Share Price Surge 15.55%, Touch 52-Week High on January 6, 2025

ITI Ltd has been in focus on Monday. On January 6, 2025, ITI share price opened at ₹473.40, up from its previous close of ₹457.10. At 11:01 AM, the share price of ITI was trading at ₹528.20, up by 15.55% on the NSE. Notably, the stock price touched its 52-week high at ₹544.70.

Recent Developments

In November 2024, ITI Limited secured a contract worth ₹95 crore from the Directorate of Geology & Mining, Government of Uttarakhand, for the Mining Digital Transformation & Surveillance System (MDTSS) project. This initiative aims to prevent illegal mining and mineral transportation while enhancing revenue for the state.

ITI Limited will serve as the primary work agency, responsible for the development, implementation, and maintenance of the MDTSS in the districts of Dehradun, Haridwar, Udham Singh Nagar, and Nainital. A Memorandum of Understanding (MoU) for ₹95 crore, valid for five years, was signed between ITI Limited and the Uttarakhand Government.

The systems will be installed at 40 check gates across these districts, with Dehradun having 8, Haridwar 13, Nainital 10, and Udham Singh Nagar 9 check gates.

H1 FY 2025 Financial Highlights

For the half-year ended September 30, 2024, ITI Limited reported a total revenue of ₹156,589 lakh, a significant increase from ₹42,611 lakh during the same period in 2023. Despite this growth, the company recorded a loss of ₹16,119 lakh in profit for the period, an improvement from the loss of ₹22,840 lakh during the corresponding half-year in 2023.

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