16.03% Fall In 1-Week: Multibagger PSU Telecom Stock Gains 8% Today, Buy?

Public sector undertaking from the Department of Telecommunication, Ministry of Communications, ITI Ltd shares gained nearly 8% today. ITI shares witnessed sharp decline of 16.03% in last 1-week and surged 152% in last 6-months. Meanwhile, brokerage firm BP Wealth has assigned buy call to ITI shares with target price of Rs 381. If you buy ITI stock now at the last trading price of Rs 297.00 apiece, you can fetch potential upside of 28.28%. Check details below:

Valuation: According to BP Wealth, "Following the September low, the price action surged 171% and took a brief breather before it staged another bullish continuation breakout. The price action is anticipated to repeat the pattern following the retesting of its former breakout zone. This implies resilience to further drawdowns observed as profit-taking. The stock has also diminishing 50 period volatility hence the chances of any unruly moves remain less likely."

ITI Stock Performance & Return: The 52-week high price of ITI shares on BSE is Rs 384.35 apiece and 52-week low price is Rs 86.50 per share, respectively. It has a market capitalisation of Rs 28,350.97 crore. ITI shares rose jumped 12% in last 3-months, gained 198% in last 1-year, and offered return of 161% in last 2-years. In last 5-years, ITI stock zoomed 225%.

ITI Developed Its Own Branded Laptop: According to the September 11 regulatory filing, "Branded as 'SMAASH', the products have already been deployed in the market, and ITI Limited has won many tenders competing against MNC brands like Acer, HP, Dell and Lenovo. The two flagship products - Laptop and Micro PC have been designed in association with Intel Corporation with which an MOU has been signed for design and manufacturing."

ITI Limited's Micro PC - a GREEN solution product does the computation like any other PC with very less Carbon Footprint and considerably reduces e-waste. It consumes less power as compared to conventional PCs, is of small size, has no moving parts like fan, and has a long life. In essence, SMAASH products save electricity, cost, and workspace, added the BSE filing.

More than twelve thousand SMAASH PCs have been deployed and are successfully performing at various customer sites. SMAASH PC comes in variants like i3, i5, i7 and so on. One of the solutions that ITI Limited offers is the SMAASH PCs with solar solutions. The SMAASH PCs are highly compatible with solar solutions since they take DC input.

Rajesh Rai, Chairman and Managing Director of ITI Limited said, "I am very elated to state that we have developed SMAASH, our branded laptop and Mini PC. Our talented Palakkad Team has put in all-out efforts to make this feat possible."

About: ITI Limited is a public sector undertaking in the telecommunications technology segment established as a departmental factory in 1948. The company has a diverse suite of products including manufactured products like Gigabit Passive Optical Network (GPON), Managed Leased Line Network (MLLN) products, Stand Alone Signaling Transfer Point(SSTP), Wi-Fi Access Point, Radio Modem, SMPS, Set Top Box, Defence products like multi-capacity encryption units, Bulk encryption Units (BEU), Terminal End Secrecy Devices (TESD), Passive infrastructure products such as Optical Fiber Cable, HDPE duct, Antenna, diversified products such as smart energy meters, smart cards, solar panels, mini personal computers.

Disclaimer:

The stock has been picked from the brokerage report of BP Wealth. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.