MINDTREE at All Time High; BSE IT Index Up 0.2%

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MINDTREE at All Time High; BSE IT Index Up 0.2%
Fri, 9 Apr 09:30 AM

MINDTREE share price has hit an all-time high at Rs 2,248 (up 0.4%).

Meanwhile, the BSE IT Index is at 28,162 (up 0.2%).

Among the top gainers in the BSE IT Index today are MINDTREE (up 0.4%) and ORACLE FINANCIAL (up 0.1%).

HEXAWARE TECHNOLOGIES and L&T INFOTECH (down 0.1%) are among the top losers today.

Over the last one year, MINDTREE has moved up from Rs 736 to Rs 2,248, registering a gain of Rs 1,512 (up 202.7%).

The BSE IT has moved up from 12,716 to 28,162, registering a gain of 15,446 points (up 120.0%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INTELLECT DESIGN (up 1017.5%), TATA ELXSI (up 362.8%) and FIRSTSOURCE SOLUTIONS (up 320.2%).

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What About the Benchmark Indices?

The BSE Sensex is at 49,790 (down 0.3%). The top gainers among the BSE Sensex stocks today are HUL (up 2.1%), SUN PHARMA (up 1.0%) and POWER GRID (up 0.9%). Other gainers include BAJAJ AUTO (up 0.7%) and ITC (up 0.5%). The most traded stocks in the BSE Sensex are TATA STEEL and ITC.

In the meantime, NSE Nifty is at 14,884 (down 0.2%). The top gainers in the NSE Nifty include HUL (up 2.3%), JSW STEEL (up 1.8%) and TATA MOTORS (up 1.4%). Other gainers include SUN PHARMA (up 1.0%) and GRASIM (up 0.9%).

Over the last 12 months, the BSE Sensex has moved up from 30,067 to 49,790, registering a gain of 19,723 points (up 64.9%).

MINDTREE Financial Update...

MINDTREE net profit stood at Rs 3 billion for the quarter ended December 2020, compared to a profit of Rs 2 billion a year ago. Net Sales rose 3.0% to Rs 20.2 billion during the period as against Rs 19.7 billion in October-December 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 36.6x.



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