MINDTREE Plunges by 5%; BSE IT Index Down 3.5%

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MINDTREE Plunges by 5%; BSE IT Index Down 3.5%
Thu, 14 May 03:01 PM

MINDTREE share price has plunged 5% and is presently trading at Rs 878.

Meanwhile, the BSE IT Index is at 13,593 (down 3.5%).

Among the top losers in the BSE IT Index today are MINDTREE (down 5.5%) and INFOSYS (down 5.3%).

ORACLE FINANCIAL (up 0.2%) is among the top gainer today.

Over the last one year, MINDTREE has moved down from Rs 976 to Rs 878, registering a loss of Rs 97 (down 9.9%)..

The BSE IT has moved down from 15,519 to 13,593, loss of 1,926 points (down 12.4%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INFIBEAM AVENUES (up 24.0%) and NIIT TECHNOLOGIES (up 8.3%).

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

What About the Benchmark Indices?

The BSE Sensex is at 31,631 (down 2.6%). The top gainers among the BSE Sensex stocks today are ULTRATECH CEMENT (up 1.7%). The most traded stocks in the BSE Sensex are HUL and SUN PHARMA.

In the meantime, NSE Nifty is at 9,281 (down 2.4%). BHARTI INFRATEL (up 7.5%) and ULTRATECH CEMENT (up 2.1%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,091 to 31,631, registering a loss of 5,460 points (down 15.92%).

MINDTREE Financial Update...

MINDTREE net profit stood at Rs 2 billion for the quarter ended March 2020, compared to a profit of Rs 2 billion a year ago. Net Sales rose 4.3% to Rs 20.5 billion during the period as against Rs 19.7 billion in January-March 2019.

For the year ended March 2019, MINDTREE reported 32.3% increase in net profit to Rs 7.5 billion compared to net profit of Rs 5.7 billion during FY18.

Revenue of the company grew 28.5% to Rs 70 billion during FY19.

The current Price to earnings ratio of MINDTREE, based on rolling 12 month earnings, stands at 21.8x.



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