ITI Limited’s stock gained 5% after the company secured an initial tranche of ₹100 crore from the Centre for Development of Telematics (C-DoT). This payment is part of the revised Asset Monetization and Resource Consolidation Drive (AMRCD) proceedings, under which ITI is transferring 22.258 acres of land in Electronic City, Bangalore to C-Do.
As per the revised AMRCD order, ITI Limited is selling the specified land parcel for a total consideration of ₹200 crore. The company has confirmed that the remaining amount will be received upon the completion of necessary statutory formalities. This milestone reinforces ITI’s commitment to asset monetization, a strategic move aimed at enhancing financial stability.
ITI Limited’s stock opened at ₹277.00, reaching a high of ₹282.65 and a low of ₹276.00 during the session. The stock’s 52-week high stands at ₹592.70, while the 52-week low is ₹210.00.
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