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ITI zooms nearly 16% as government approves revival plan

By Religare

ITI zooms nearly 16% as government approves revival plan
Shares of state-controlled ITI surges nearly 16 per cent in early trade on Bombay Stock Exchange (BSE) after Cabinet Committee on Economic Affairs on Wednesday approved the revival plan of company 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. 4156.79 crore.

Cheering the news, shares of company gained as much as 15.92 per cent to trade at Rs 17.40 a piece on the BSE.

In a similar fashion, shares of the company climbed 9.97 per cent to Rs 16.55 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 20,439.22, down 9.27 points or 0.05 per cent at 9:45 hours.

Dion Global Solutions Ltd.

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