MINDTREE at All Time High; BSE IT Index Up 0.7%

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Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

MINDTREE at All Time High; BSE IT Index Up 0.7%
Fri, 21 Aug 09:31 AM

MINDTREE share price has hit an all-time high at Rs 1,197 (up 1.8%).

Meanwhile, the BSE IT Index is at 18,462 (up 0.7%).

Among the top gainers in the BSE IT Index today are MINDTREE (up 1.8%) and ORACLE FINANCIAL (up 0.2%).

SONATA SOFTWARE (down 0.4%) and TATA ELXSI (down 0.8%) are among the top losers today.

Over the last one year, MINDTREE has moved up from Rs 708 to Rs 1,197, registering a gain of Rs 490 (up 68.9%).

The BSE IT has moved up from 15,748 to 18,462, registering a gain of 2,714 points (up 17.1%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were PERSISTENT SYSTEMS (up 82.9%), INFIBEAM AVENUES (up 78.6%) and TATA ELXSI (up 70.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 38,560 (up 0.9%). The top gainers among the BSE Sensex stocks today are POWER GRID (up 3.3%), SBI (up 2.2%) and NTPC (up 1.8%). Other gainers include HDFC BANK (up 1.6%) and TECH MAHINDRA (up 1.3%). The most traded stocks in the BSE Sensex are NTPC and SBI.

In the meantime, NSE Nifty is at 11,414 (up 0.8%). The top gainers in the NSE Nifty include POWER GRID (up 3.1%), SBI (up 2.2%) and COAL INDIA (up 2.0%). Other gainers include HDFC BANK (up 1.8%) and TATA MOTORS (up 1.6%).

Over the last 12 months, the BSE Sensex has moved up from 37,328 to 38,560, registering a gain of 1,232 points (up 3.3%).

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 31.1x.



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