MINDTREE at All Time High; BSE IT Index Up 2.1%

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MINDTREE at All Time High; BSE IT Index Up 2.1%
Mon, 21 Sep 12:06 PM

MINDTREE share price has hit an all-time high at Rs 1,318 (up 3.3%).

Meanwhile, the BSE IT Index is at 20,329 (up 2.1%).

Among the top gainers in the BSE IT Index today are MINDTREE (up 3.3%) and ORACLE FINANCIAL (up 5.1%).

HEXAWARE TECHNOLOGIES (down 0.1%) and L&T TECHONOLOGY (down 0.2%) are among the top losers today.

Over the last one year, MINDTREE has moved up from Rs 680 to Rs 1,318, registering a gain of Rs 638 (up 93.4%).

The BSE IT has moved up from 15,904 to 20,329, registering a gain of 4,425 points (up 27.4%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were TATA ELXSI (up 104.7%), PERSISTENT SYSTEMS (up 104.7%) and INFIBEAM AVENUES (up 98.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 38,991 . The top gainers among the BSE Sensex stocks today are HCL TECHNOLOGIES (up 3.7%), KOTAK MAHINDRA BANK (up 2.5%) and INFOSYS (up 2.3%). Other gainers include TECH MAHINDRA (up 1.9%) and TCS (up 1.6%). The most traded stocks in the BSE Sensex are HCL TECHNOLOGIES and RELIANCE IND..

In the meantime, NSE Nifty is at 11,535 (down 0.1%). The top gainers in the NSE Nifty include HCL TECHNOLOGIES (up 3.8%), KOTAK MAHINDRA BANK (up 2.5%) and INFOSYS (up 2.4%). Other gainers include TECH MAHINDRA (up 2.3%) and TCS (up 1.7%).

Over the last 12 months, the BSE Sensex has moved up from 36,481 to 38,991, registering a gain of 2,510 points (up 6.4%).

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 34.3x.



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