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ITI is currently trading at Rs. 16.48, up by 1.47 points or 9.79% from its previous closing of Rs. 15.01 on the BSE.
The scrip opened at Rs. 16.25 and has touched a high and low of Rs. 17.40 and Rs. 16.25 respectively. So far 2,81,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 23.25 on 13-Feb-2013 and a 52 week low of Rs. 12.39 on 06-Aug-2013.
Last one week high and low of the scrip stood at Rs. 17.40 and Rs. 14.90 respectively. The current market cap of the company is Rs. 474.00 crore.
The promoters holding in the company stood at 90.00% while Institutions and Non-Institutions held 3.40% and 6.60% respectively.
The Cabinet Committee on Economic Affairs (CCEA) has approved the revival plan of ITI based on the recommendations of the Board for Reconstruction of Public Sector Enterprise (BRPSE). The revival plan will be supported through financial restructuring by fund infusion of Rs 4,156.79 crore. The revival plan is expected to be implemented over a period of 18 months.
Out of Rs 4,156.79 crore, capital grant of Rs 2,264 crore will be given in the form of equity for project implementation (CAPEX) for up-grading manufacturing infrastructure at various units and for new projects. The balance amount of Rs 1,892.79 crore will be financial assistance in the form of grant-in-aid for statutory liabilities and other commitments made by ITI such as redemption of preferential share capital of BSNL/MTNL, arrears due to 1997 pay revision, VRS, establishment cost during the implementation of revival plan and waiver of government guarantee fee.
Besides, with the cleaning of the balance sheet to a certain extent, the company will be able to raise resources for their operations and compete in the market. With upgrading of the manufacturing infrastructure at its plants, ITI will be able to manufacture new technology products in telecom / diversified fields and able to increase its market share.
Further, CCEA has also approved regular monitoring of the implementation of the revival plan to be done by suitable committees, which will be constituted at the Corporate level and unit level in ITI and by an Apex Committee to be chaired by Secretary, Department of Telecommunication.
| Company Name | CMP |
|---|---|
| Tejas Networks | 1369.10 |
| ITI | 301.50 |
| Quadrant Televenture | 2.05 |
| Black Box | 264.00 |
| Avantel | 123.35 |
| View more.. | |
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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