ITI shares surge 15%, post best day in 14 months amid spike in trading volumes

Shares of the state-run telecom equipment and smart meters maker ITI posted their best day in over a year on Monday, March 16 in a highly volatile trading session. ITI shares rose as much as 15%, its biggest intraday gain since January 6, 2025, to hit an intraday high of ₹279 on the National Stock Exchange (NSE). On the BSE, ITI shares jumped as much as 15% on the back of spike in trading volumes.

ITI shares were witnessing very high trading activity as trading volume in the stock jumped by 167 times to over 5.38 crore shares compared with an average trading volume of 3.22 lakh shares.

On the BSE, as many as 34.78 lakh shares changed hands compared with an average of 25,000 shares traded daily in the past two weeks.

ITI last month informed exchanges that S Jeyanthi, Director (Production) & Director (HR) Addl. Charge of ITI ceased to be a director with effect from February 28 and it has appointed Rajesh Rai as the Chairman & Managing Director.

Meanwhile, a report suggested that a parliamentary panel has urged the power ministry to undertake urgent measures to accelerate the installation of smart meters in a structured and time-bound manner.

The report said that since the pace of installation of smart meters across the country has been far below the envisaged targets, the ministry should undertake urgent measures to significantly accelerate the rollout of smart meters in a structured and time-bound manner, with clearly defined state-wise and utility-wise milestones.

It noted that the government had set a target of installing 25 crore smart meters in the country by March 2025, against which only 5.83 crore smart meters have been installed till February 15, 2026.

ITI Q3 earnings

ITI last month reported net loss of ₹25 crore in the third quarter of current financial compared with loss of ₹49 crore in the same period last year.

Its revenue from operations dropped 50% to ₹515 crore compared with ₹1,034 crore in the year-ago period.

ITI reported stable operational performance also known as EBITDA in at ₹26 crore compared with an EBITDA loss of ₹11 crore.

As of 1:30 pm, ITI shares traded 9% higher at ₹264.85, outperforming the NIFTY 500 index which was down 0.65%.