MINDTREE at All Time High; BSE IT Index Up 0.4%

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MINDTREE at All Time High; BSE IT Index Up 0.4%
Thu, 17 Jun 11:10 AM

MINDTREE share price has hit an all-time high at Rs 2,508 (up 0.5%).

Meanwhile, the BSE IT Index is at 29,110 (up 0.4%).

Among the top gainers in the BSE IT Index today are MINDTREE (up 0.5%) and COFORGE (up 0.4%).

HEXAWARE TECHNOLOGIES and FIRSTSOURCE SOLUTIONS (down 0.1%) are among the top losers today.

Over the last one year, MINDTREE has moved up from Rs 923 to Rs 2,508, registering a gain of Rs 1,585 (up 168.8%).

The BSE IT has moved up from 14,346 to 29,110, registering a gain of 14,764 points (up 102.8%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INTELLECT DESIGN (up 773.0%), FIRSTSOURCE SOLUTIONS (up 336.4%) and PERSISTENT SYSTEMS (up 330.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 52,524 (down 0.1%). The top gainers among the BSE Sensex stocks today are ULTRATECH CEMENT (up 1.6%), NESTLE (up 1.0%) and ASIAN PAINTS (up 0.9%). Other gainers include RELIANCE IND. (up 0.6%) and INFOSYS (up 0.6%). The most traded stocks in the BSE Sensex are RELIANCE IND. and SUN PHARMA.

In the meantime, NSE Nifty is at 15,769 (down 0.2%). The top gainers in the NSE Nifty include ULTRATECH CEMENT (up 1.9%), SHREE CEMENT (up 1.6%) and NESTLE (up 1.1%). Other gainers include ASIAN PAINTS (up 1.0%) and GRASIM (up 0.8%).

Over the last 12 months, the BSE Sensex has moved up from 33,229 to 52,524, registering a gain of 19,295 points (up 57.8%).

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 40.8x.



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