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Mint
29-05-2025
- Business
- Mint
ITI share price jumps 8%, up over 40% in May; what should investors do with this PSU stock?
ITI share price has been enjoying a strong bullish momentum over the last few days. Rising for the fourth consecutive session, ITI shares jumped almost 8 per cent in morning trade on the BSE on Thursday, May 29. ITI share price opened at ₹ 349.80 against its previous close of ₹ 340 and jumped 7.6 per cent to an intraday high of ₹ 365.95. Around 9:50 AM, the PSU stock traded 4.26 per cent higher at ₹ 354.50. On a monthly scale, the stock has surged over 40 per cent in May so far and is set to extend its winning run to the third consecutive month. Over the last year, the PSU stock has jumped over 20 per cent, hitting a 52-week high of ₹ 592.85 on January 7 this year and a 52-week low of ₹ 210.20 on October 25 last year. ITI's Q4 results were better than expectations as its consolidated net loss narrowed to just ₹ 4.4 crore, compared to a ₹ 239 crore loss in the corresponding quarter of the previous financial year. Q4FY25 revenue surged 73.9 per cent year-on-year to ₹ 1,046 crore from ₹ 601 crore in Q4FY24. EBITDA loss narrowed to ₹ 28.2 crore from ₹ 174 crore YoY. Meanwhile, ITI announced that its board of directors approved the allotment of equity shares on a preferential basis to the President of India, against a CAPEX infusion of ₹ 59 crore in line with a BIFR Order dated January 8, 2013. ITI is India's first public sector undertaking (PSU) in the telecommunications space. Technical experts see bullish patterns on charts and believe the stock has the potential to rise to levels above ₹ 400. According to Anshul Jain, the head of research at LakshmishreeInvestments, ITI has surged from a 13-week consolidation, forming a robust double bottom at ₹ 270 on weekly charts. Jain said this breakout, fueled by ideal volume accumulation, signals strong bullish momentum. "The stock is now targeting the 50 per cent retracement level of its prior decline at ₹ 411. With a solid base acting as a propeller, ITI's upward trajectory appears promising, making it a key watch for investors seeking dynamic opportunities in the market," said Jain. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, underscored that ITI has established a strong base near the ₹ 280 level and is currently trading around ₹ 360, reclaiming the ₹ 330 mark — a previous support-turned-resistance — indicating strength. The weekly RSI is holding above 60, suggesting bullish momentum. ITI stock technical chart "For further confirmation, a sustained weekly close above ₹ 330 would reinforce the bullish outlook, potentially paving the way for an upside move towards ₹ 400," said Patel. Read all market-related news here Read more stories by Nishant Kumar
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Business Standard
27-05-2025
- Business
- Business Standard
ITI Ltd share price hit 10% upper circuit in trade ahead of releasing Q4
ITI share price touched 10 per cent upper circuit in trade on Tuesday, May 27, 2025, at ₹309.1 per share on BSE. The buying on the counter came ahead of board to consider Q4 numbers and allotment of equity shares to the President of India. At 11:22 AM, ITI Ltd shares were up 9.79 per cent at ₹308.5 per share on the BSE. In comparison, the BSE Sensex was up 0.41 per cent at 81,842.62. The market capitalisation of the company stood at ₹29,657.78 crore. The 52-week high of the stock was at ₹592.85 per share and the 52-week low of the stock was at ₹210.2 per share. When will ITI Ltd release its Q4 results? On MAy 19, 2025, through a filing, the company announced that its board will consider March quarter earnings and allotment of equity shares to the President of India in a meeting on May 27, 2025. "We wish to inform you that a meeting of board of directors of the Company will be held on Tuesday, May 27, 2025, inter alia, to: consider and approve the Audited Financial Results (Standalone and Consolidated) for the Quarter and Year Ended 31.03.2025. Allotment of equity shares to the President of India on preferential basis, against capex infusion of ₹59 crore, as per revival package of BIFR order dated January 8, 2013," the filing read. About ITI Ltd ITI Limited is a public sector undertaking in the telecommunications technology segment established as a departmental factory in 1948. The company has manufacturing facilities in Bengaluru, Naini, Rae Bareli, Mankapur and Palakkad along with an R&D centre in Bengaluru and 11 Marketing, Services & Projects (MSP) centers in India, which are located at Bengaluru, Chennai, Hyderabad, Mumbai, Ahmedabad, Kolkata, Guwahati, Bhopal, Delhi, Lucknow and Chandigarh. The company has a diverse suite of products including manufactured products like Gigabit Passive Optical Network (GPON), Managed Leased Line Network (MLLN) products, Stand Alone Signaling Transfer Point(SSTP), Wi-Fi Access Point, Radio Modem, SMPS, Set Top Box, Defence products like multi-capacity encryption units, Bulk encryption Units (BEU), Terminal End Secrecy Devices (TESD), Passive infrastructure products such as Optical Fiber Cable, HDPE duct, Antenna, diversified products such as smart energy meters, smart cards, solar panels, mini personal computers.
New Indian Express
21-05-2025
- Business
- New Indian Express
Banks take 67% haircut in 1,194 insolvency cases yielding resolution
Lenders have recovered Rs 3.89 lakh crore against admitted claims of Rs 12 lakh crore through resolution plans under the Corporate Insolvency Resolution Process (CIRP) till March 2025, resulting in a recovery rate of 33%. This means on average bankers have taken a haircut of 67% from CIRPs which yielded in resolution. However, the recovery is 163% of the total liquidation value (Rs 2.30 lakh crore) of the companies which got resolved through insolvency resolution process. The total number of insolvency cases yielding resolution plans rose to 1,194 by March 2025, up from 947 in FY2023-24. At the end of FY24, the total recovery was to the tune of Rs 3.36 lakh crore. Of the 1,194 cases, lenders in 172 cases had admitted claims exceeding Rs 1,000 crore. While these large corporate debtors owed creditors Rs 10.24 lakh crore, the fair value of their assets at the time of entering CIRP was only Rs 1.95 lakh crore. Creditors in these cases realised 33.89% of their admitted claims, but 177.61% of the liquidation value. While a 67% haircut raises serious question over the efficacy of the IBC, the insolvency regulator – Insolvency and Bankruptcy Board of India (IBBI) – has says that the recovery amount does not account for potential future recoveries such as proceeds from personal and corporate guarantees, equity value, or avoidance transaction recoveries. It further says that significant portion of resolved case (40%) were previously defunct or with the erstwhile Board for Industrial and Financial Reconstruction (BIFR). In these cases, claimants realised just 19.03% of their admitted claims, though they achieved 151.92% of the liquidation value. On the liquidation front, 2,758 cases ended in liquidation as of March 2025. Of the total cases, 214 involved admitted claims exceeding Rs 1,000 crore, but had asset values of merely Rs 0.46 lakh crore, according to IBBI newsletter. Around 78% of all liquidated CIRPs were either BIFR cases or defunct entities, where the average asset value was only 6% of the outstanding debt. Meanwhile, IBBI chairman Ravi Mittal has reiterated the importance of IBC in resolving NPA cases. He cites an RBI Report, which showed that the IBC had emerged as the dominant recovery route for banks, accounting for 48% of all recoveries made by them. He further says cost of debt for distressed firms have come down by 3% post-IBC (vs non-distressed firms), indicating an improved credit environment for distressed firms.
