ITI Ltd shares hit 5% upper circuit on receiving revised Rs 200 cr AMRCD order

“With reference to the letter dated July 12, 2024, regarding the captioned subject, ITI Limited has been informed about the order of AMRCD proceedings with the stock exchanges. Furthermore, the company has received a revised order from the AMRCD, stipulating that ITI shall transfer its 22.258 acres of land situated at Electronic City, Bangalore to C-DoT through a sale deed for a consideration of Rs.200 Crores,” the company informed in an exchange filing.

Additionally, as part of this agreement, ITI Ltd has already received an initial tranche of Rs 100 crore from C-DoT on February 19, 2025.

The balance remaining part of the consideration is expected to be received after the completion of other statutory formalities by the company in this regard, the company further informed.

ITI Ltd share price performance

Over the past year, the share price of ITI Ltd has declined by 9.77%, while the year-to-date (YTD) change reflects a significant drop of 25.66%.

In the last six months, the stock has decreased by 4.51%, whereas over the past three months, it has experienced a modest increase of 2.49%. Additionally, the past month saw a sharp decline of 22.45%.

ITI Ltd technical performance

The shares of ITI Ltd are currently placed above their short term exponential moving average (10 EMA), however are placed below the medium and long term averages (20, 50, 100 and 200 DEMA).

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