ITI Share Price: The stock of public sector telecom company ITI has crossed the level of Rs 400 for the first time with a jump of about 10 percent in the session of Tuesday 10 December 2024 and reached Rs 404. But the rise in ITI stock has not come only today. Rather, in the last three sessions, this giant telecom stock has jumped by 42.50 percent. A strong increase in trading volume is being seen in the stock.

ITI stock jumped by leaps and bounds 

On 5 December 2024, ITI's stock closed at Rs 283.50. But in the last trading session itself, the stock has jumped by Rs 120.50 per share. The stock remained bullish in Tuesday's session as well and the stock crossed the level of Rs 400 and reached its all-time high of Rs 404. Currently, the stock is trading at Rs 393.50 with a jump of 6.90 percent. The market cap of the company has reached Rs 37,810 crore. 

ITI's share almost doubled in one and a half months

In October 2024, when foreign investors were continuously selling in the Indian stock market, the shares of all public sector companies were beaten badly. ITI was also included in this episode. ITI's share fell to Rs 210 on October 25, 2024. But since October 25, the stock has jumped 92.38 percent. That is, ITI's share has doubled the investors' money in one and a half months. ITI's stock is a multibagger stock which has given its shareholders a return of 257 percent in 2 years and 370 percent in 5 years. 

Why is ITI's stock rising?

In November, ITI was the company that bid at the lowest rate for three packages of BharatNet Phase 3 project. Under this scheme, there is a plan to expand the broadband infrastructure in the country. ITI will work on the design, build, operate and maintain model. ITI is now also working for the delivery of secure communication services in the defense sector. Along with this, the company is expanding in the field of data centers, cyber security and e-governance. This is supporting the stock.