ITI Limited, a leading manufacturer of electronic and communication products, witnessed a remarkable 20% surge in its shares on Monday, September 11, reaching their highest level in 52 weeks. This surge comes on the heels of the company’s announcement that it has developed a branded laptop and mini personal computer, to be marketed under the name “SMAASH,” in collaboration with the renowned American tech company Intel.
ITI Limited’s Remarkable 20% Share Surge
Rajesh Rai, Chairman and Managing Director of ITI, expressed his delight, stating, “I am very happy to share that we have developed our own branded laptop and mini PC. Our talented team in Palakkad has made this achievement possible. These products are receiving a positive response and are helping us secure orders in challenging markets.”
ITI’s Branded Laptop and Mini PC
The company disclosed that over twelve thousand SMAASH PCs have already been deployed at various customer sites, performing exceptionally well. Additionally, ITI Limited recently won two tenders from Kerala Infrastructure and Technology for Education, supplying nearly 9,000 laptops to government schools in Kerala.
Highlighting the environmental benefits of their micro-PC, ITI Limited emphasized its low carbon footprint and compatibility with DC input, making it ideal for solar solutions. At the close of trading, ITI shares surged to Rs 149.30, up by Rs 24.85 or 19.97%.
SMAASH PCs Soar in Deployment
Following the company’s regulatory filing, approximately 2 crore shares were traded in the stock market, a significant increase compared to the monthly average of 14 lakh shares. While the company reported a 5.42% decline in revenue for the June quarter, with a loss of Rs 103 crore, compared to Rs 99 crore in the same period last year, their environmentally conscious micro-PC and successful product launches have bolstered investor confidence.
