ITI lost 5.15% to Rs 47 at 09:51 IST on BSE after the company said that it has been declared as lowest bidder for ASCON Phase IV Project by Ministry of Defence worth approximately Rs 7000 crore.
The announcement was made after market hours yesterday, 20 September 2017.Meanwhile, the S&P BSE Sensex was down 23.11 points or 0.07% at 32,377.40. Meanwhile, the S&P BSE Mid-Cap index was down 58.63 points or 0.36% at 16,040.65
On BSE, so far 24.30 lakh shares were traded in the counter as against average daily volume of 2.88 lakh shares in the past one quarter. The stock hit a low of Rs 97.65 so far during the day. The stock hit a high of Rs 122.20 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 97.65 so far during the day. The stock had hit a 52-week low of Rs 26.20 on 30 September 2016.
The stock had outperformed the market over the past one month till 20 September 2017, rising 21.03% compared with 3.54% gain in the Sensex. The scrip also outperformed the market in past one quarter, gaining 9.11% as against Sensex's 3.55% rise. The scrip also outperformed the market in past one year, surging 255.5% as against Sensex's 13.66% upmove.
The small-cap company has equity capital of Rs 560 crore. Face value per share is Rs 10.
ITI reported 94.65% slide in net profit to Rs 0.37 crore on 37.27% slide in total income to Rs 258.44 crore in Q1 June 2017 over Q1 June 2016.
ITI offers a complete range of telecom products and total solutions covering the whole spectrum of switching, transmission, access and subscriber premises equipment.
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