NIIT TECHNOLOGIES Surges by 5%; BSE IT Index Up 1.4%

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NIIT TECHNOLOGIES Surges by 5%; BSE IT Index Up 1.4%
Tue, 20 Aug 03:32 PM

NIIT TECHNOLOGIES share price has zoomed 5% and is presently trading at Rs 1,397.

Meanwhile, the BSE IT Index is at 15,816 (up 1.4%).

Among the top Gainers in the BSE IT Index today are NIIT TECHNOLOGIES (up 5.3%) and PERSISTENT SYSTEMS (up 5.4%).

FIRSTSOURCE SOL. (down 0.1%) and TECH MAHINDRA (down 0.2%) are among the top losers today.

Over the last one year, NIIT TECHNOLOGIES has moved up from Rs 1,316 to Rs 1,397, registering a gain of Rs 81 (up 6.0%).

On the other hand, the BSE IT has moved up from 14,903 to 15,816, registering a gain of 913 points (up 5.7%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were WIPRO (up 18.7%), INFOSYS (up 14.5%) and HCL TECHNOLOGIES (up 9.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 37,512 (down 0.1%).

The top gainers among the BSE Sensex stocks today are MARUTI SUZUKI (up 3.9%), TATA MOTORS (up 2.6%) and INFOSYS (up 2.0%). Other gainers include HCL TECHNOLOGIES (up 1.9%) and M&M (up 1.6%). The most traded stocks in the BSE Sensex are TATA MOTORS and TATA MOTORS DVR.

In the meantime, NSE Nifty is at 11,076 (down 0.3%). MARUTI SUZUKI (up 4.0%) and TATA MOTORS (up 2.5%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 38,279 to 37,512, registering a gain of -767 points (up -2.4%).

NIIT TECHNOLOGIES Financial Update...

NIIT TECHNOLOGIES net profit down at Rs 898 million for the quarter ended June 2019, compared to a loss of Rs 1 billion a year ago. Net Sales declined 0.9% to Rs 9.6 billion during the period as against Rs 9.7 billion in April-June 2018.

For the year ended March 2018, NIIT TECHNOLOGIES reported 4.9% increase in net profit to Rs 3.1 billion compared to net profit of Rs 2.9 billion during FY17.

Revenue of the company grew 6.8% to Rs 30 billion during FY18.

The current Price to earnings ratio of NIIT TECHNOLOGIES, based on rolling 12 month earnings, stands at 20.1x.



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