MINDTREE at All Time High; BSE IT Index Up 2.2%

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MINDTREE at All Time High; BSE IT Index Up 2.2%
Mon, 21 Sep 09:38 AM

MINDTREE share price has hit an all-time high at Rs 1,300 (up 2.0%).

Meanwhile, the BSE IT Index is at 20,310 (up 2.2%).

Among the top gainers in the BSE IT Index today are MINDTREE (up 2.0%) and ORACLE FINANCIAL (up 1.3%).

L&T TECHONOLOGY and ECLERX SERVICES (down 0.1%) are among the top losers today.

Over the last one year, MINDTREE has moved up from Rs 680 to Rs 1,300, registering a gain of Rs 620 (up 90.8%).

The BSE IT has moved up from 15,904 to 20,310, registering a gain of 4,406 points (up 27.6%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were PERSISTENT SYSTEMS (up 106.1%), TATA ELXSI (up 104.7%) and INFIBEAM AVENUES (up 98.7%).

Know More: Is India's Economic Recovery Sustainable?

What About the Benchmark Indices?

The BSE Sensex is at 38,940 (up 0.2%). The top gainers among the BSE Sensex stocks today are HCL TECHNOLOGIES (up 4.5%), INFOSYS (up 2.2%) and TCS (up 2.1%). Other gainers include TECH MAHINDRA (up 2.1%) and KOTAK MAHINDRA BANK (up 1.2%). The most traded stocks in the BSE Sensex are HCL TECHNOLOGIES and INFOSYS.

In the meantime, NSE Nifty is at 11,529 (up 0.2%). The top gainers in the NSE Nifty include HCL TECHNOLOGIES (up 4.5%), TECH MAHINDRA (up 2.4%) and INFOSYS (up 2.2%). Other gainers include TCS (up 2.1%) and WIPRO (up 1.9%).

Over the last 12 months, the BSE Sensex has moved up from 36,481 to 38,940, registering a gain of 2,459 points (up 6.7%).

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 33.8x.



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