ITI buzzing loud

ITI had a surprise announcement to make yesterday evening. The PSU announced that for FY19, it achieved a turnover of Rs.2051.59 crore, showing a double digit growth (an increase of 20%) over the previous year's turnover of Rs. 1703 crore.

Its net profit for 9MFY19 stood at Rs.24 crore v/s Rs.231 crore for FY18. So in terms of bottomline, it’s a long way off.

The stock price today opened with a gain of 3.17% at Rs.101, only to rise further to Rs.106.85, up over 9%. Its 52-week high stands at Rs.137.90. It is currently the top gainer on the BSE.