Latest news with #ITILtd
Time of India
10-07-2025
- Business
- Time of India
BJP leaders appointed as independent director
Bhubaneswar: Senior BJP leader from Odisha, Gopinath Sahu, was appointed as an independent director on the Board of ITI Ltd, a leading Central PSU under the department of telecommunications. ITI Ltd, established in 1948 and headquartered in Bengaluru, is India's oldest telecom manufacturing PSU, crucial to the nation's telecommunications infrastructure. Sahu, from Bhanjanagar, is a key strategist for BJP in Odisha, leading the state BJP's communication and data division since 2018. He played a significant role in the 2019 and 2024 General Elections, earning respect for his managerial skills and ideological commitment.
Mint
01-07-2025
- Business
- Mint
Promoters stake sales surge almost 7-fold in Q1 as they cash in on high market valuations
Promoters of companies are cashing in their shares on high valuations. The value of promoter holdings in listed companies that were sold in the April-to-June period surged almost sevenfold from the previous quarter as higher market valuations offered them a better price. Shares sold by promoters on the country's top two exchanges increased 6.69 times on a quarterly basis and 1.54 times from a year earlier to ₹2.61 trillion, according to PRIME Database, which cited insider trading disclosures in the first quarter of FY26. The highest-selling promoter was the government, which sold shares worth ₹29,963 crore in ITI Ltd. Among the others, Pastel, a subsidiary of Singapore-based Singtel, sold shares worth ₹12,880 crore in Bharti Airtel, and the Chinkerpoo Family Trust set up by Rakesh Gangwal, co-founder of IndiGo, sold shares worth ₹10,408 crore in InterGlobe Aviation. Promoter stake sales in Vishal Mega Mart and Wipro were among the top five. In the first six months of 2025, promoters have already sold 65% of the stake worth ₹4.61 trillion that they offloaded in 2024. Promoters are seizing the current favourable market conditions to dilute their stakes in companies as valuations are currently significantly higher than their intrinsic worth, said Siddarth Bhamre, head of institutional research at Asit C Mehta Investment Intermediaries Ltd. Many promoters believe that their businesses are valued far above their actual worth and this valuation gap has prompted them to capitalise on the opportunity, resulting in a surge in stake sales, Bhamre added. The Nifty 50's current PE is 22.8x compared with 19.8x on 28 March, while its 12-month forward PE is 19.9x. The index has jumped 8.49% from April 1 to June 30. The PE of InterGlobe Aviation when the stake was sold on 25 May was 28.29x compared with an average of 18.35x in Q1 a year earlier. The PE of Vishal Mega Mart when Samayat Services LLP sold ₹10,221 crore of shares on 18 June was 90.42x compared with an average of 22.81x in the January-March quarter of 2024. Investment avenues Apart from rising valuations, promoters may sell shares to meet minimum public shareholding norms, repay debt or raise funds to invest elsewhere. 'Individual promoters are selling stakes either to deleverage the balance sheet at a personal level or to book profit and diversify into other investment avenues, while continuing to hold a majority stake in the company," said Sunny Agrawal, head of fundamental equity research at SBI Securities. The same promoters may later invest in the business and again increase their stakes through warrants, rights issues, or preferential allotments, he added. Of the ₹2.61 trillion worth of shares sold by promoters, offers-for-sale (OFS) made up ₹8,284 crore, while shares sold in block or bulk deals added up to ₹60,900 crore, as per PRIME Database. OFS, block and bulk deals are a part of the insider trading filings but do not make up all stake sales by promoters. Promoters selling stakes via bulk or block deals increased 64% YoY and 17 times sequentially in Q1. Promoters who sold shares via OFS increased 25 times YoY and 69% sequentially. The markets seem to remain elevated on the back of falling interest rates, which may keep promoter stake sale activity higher in the coming quarters, said Vinit Bolinjker, head of research at Ventura Securities. Agrawal of SBI Securities added that if market sentiment remains buoyant, promoter stake sales will continue. 'The market sentiment looks positive as global uncertainties have receded of late. And a rate cut and tax cut may boost consumption. Plus, private capex is picking up and earnings growth is likely to go back to two-digit numbers in Q2 of FY26," Agrawal added.
Business Standard
18-06-2025
- Business
- Business Standard
Tanla Platforms Ltd Falls 1.93%
Tanla Platforms Ltd has added 14.18% over last one month compared to 3.41% gain in BSE Teck index and 0.91% drop in the SENSEX Tanla Platforms Ltd lost 1.93% today to trade at Rs 663.35. The BSE Teck index is down 0.58% to quote at 18419.46. The index is up 3.41 % over last one month. Among the other constituents of the index, ITI Ltd decreased 1.75% and PB Fintech Ltd lost 1.36% on the day. The BSE Teck index went up 10.54 % over last one year compared to the 5.19% surge in benchmark SENSEX. Tanla Platforms Ltd has added 14.18% over last one month compared to 3.41% gain in BSE Teck index and 0.91% drop in the SENSEX. On the BSE, 3908 shares were traded in the counter so far compared with average daily volumes of 1.7 lakh shares in the past one month. The stock hit a record high of Rs 1086.05 on 15 Jul 2024. The stock hit a 52-week low of Rs 409.4 on 03 Mar 2025.
Business Standard
30-05-2025
- Business
- Business Standard
ITI Ltd Falls 4.3%
ITI Ltd has added 36.59% over last one month compared to 3.89% gain in BSE Teck index and 1.52% rise in the SENSEX ITI Ltd lost 4.3% today to trade at Rs 349.05. The BSE Teck index is down 0.44% to quote at 17996.38. The index is up 3.89 % over last one month. Among the other constituents of the index, Infosys Ltd decreased 1.37% and Tech Mahindra Ltd lost 1.03% on the day. The BSE Teck index went up 13.85 % over last one year compared to the 10.26% surge in benchmark SENSEX. ITI Ltd has added 36.59% over last one month compared to 3.89% gain in BSE Teck index and 1.52% rise in the SENSEX. On the BSE, 65790 shares were traded in the counter so far compared with average daily volumes of 1.32 lakh shares in the past one month. The stock hit a record high of Rs 592.85 on 07 Jan 2025. The stock hit a 52-week low of Rs 210.2 on 25 Oct 2024.
Mint
28-05-2025
- Business
- Mint
ITI shares surge 9% as Q4 loss narrows sharply, revenue jumps nearly 74%
Shares of ITI Ltd rallied sharply on Wednesday, May 28, climbing as much as 9 percent in intra-day trade after the company reported a substantial improvement in its March quarter earnings. The stock touched a high of ₹ 336.75, marking its strongest level since January 30, 2025. Investor confidence was bolstered by ITI's March 2025 quarter results, which showed a significant reduction in net losses and a robust improvement in revenue. The company reported a net loss of just ₹ 4.4 crore, compared to a steep ₹ 239 crore loss in the corresponding quarter of the previous year. Revenue for the quarter surged 73.9 percent year-on-year, reaching ₹ 1,046 crore from ₹ 601 crore in Q4FY24. Furthermore, EBITDA loss narrowed to ₹ 28.2 crore from ₹ 174 crore, indicating a meaningful improvement in the company's operational performance. In addition to the strong earnings, 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. Founded in 1948, ITI Limited is India's first public sector undertaking (PSU) in the telecommunications space. Over the years, it has built a strong manufacturing footprint with facilities in Bengaluru, Naini, Rae Bareli, Mankapur, and Palakkad, and a dedicated R&D centre in Bengaluru. The company also operates 11 Marketing, Services & Projects (MSP) centres across India in cities such as Mumbai, Chennai, Hyderabad, Kolkata, Delhi, and Chandigarh, among others. ITI's diverse product portfolio includes advanced telecom and defence equipment such as Gigabit Passive Optical Networks (GPON), Managed Leased Line Network (MLLN) products, Wi-Fi access points, encryption units, smart energy meters, smart cards, and mini PCs. It also manufactures passive infrastructure products like optical fibre cables, HDPE ducts, and antennas. Following Wednesday's rally, ITI shares were trading 43 percent below their 52-week high of ₹ 592.85, hit in January 2025. However, the stock has recovered significantly from its 52-week low of ₹ 210.20, touched in October 2024—marking a rebound of over 60 percent. Over the past year, the PSU stock have declined 8.5 percent, but recent months have shown a turnaround. The stock has gained 29.5 percent in May alone, following a 2.5 percent rise in April and a 1.2 percent gain in March. Prior to this recovery, it had shed 16 percent in January and 24 percent in February. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
