Shares of ITI, a public sector undertaking specialising in telecom equipment and accessories, surged 15.33 per cent to ₹527.35 on the BSE at 11 AM on Friday’s intra-day trade, reaching a 52-week high of ₹545.55. This impressive rally comes amidst a broader market weakness and follows a 29 per cent surge in the past week.

Over the past two months, the stock price has skyrocketed 92 per cent , climbing from ₹220. This significant growth builds upon a remarkable two-year performance, with the share price increasing a staggering 302 per cent from ₹105.10 in January 2023.

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ITI has secured significant contracts, including its participation in Bharat Net Phase II, the defense ministry’s Ascon project, and the supply of smart energy meters and network infrastructure for spectrum. These projects combined with a robust existing order book, ensure healthy revenue visibility for the company.