NIIT TECHNOLOGIES at All Time High; BSE IT Index Up 1.0%

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NIIT TECHNOLOGIES at All Time High; BSE IT Index Up 1.0%
Tue, 11 Aug 09:49 AM

NIIT TECHNOLOGIES share price has hit an all-time high at Rs 2,079 (up 4.3%).

Meanwhile, the BSE IT Index is at 18,412 (up 1.0%).

Among the top gainers in the BSE IT Index today are NIIT TECHNOLOGIES (up 4.3%) and L&T INFOTECH LTD (up 0.4%).

HEXAWARE TECHNOLOGIES and ORACLE FINANCIAL (down 0.5%) are among the top losers today.

Over the last one year, NIIT TECHNOLOGIES has moved up from Rs 1,307 to Rs 2,079, registering a gain of Rs 772 (up 58.6%).

The BSE IT has moved up from 15,503 to 18,412, registering a gain of 2,909 points (up 18.5%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were PERSISTENT SYSTEMS (up 86.9%), INFIBEAM AVENUES (up 78.2%) and TATA ELXSI (up 67.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 38,551 (up 0.8%). The top gainers among the BSE Sensex stocks today are TATA STEEL (up 3.1%), ICICI BANK (up 2.4%) and AXIS BANK (up 2.3%). Other gainers include ITC (up 1.9%) and HDFC (up 1.9%). The most traded stocks in the BSE Sensex are TECH MAHINDRA and ICICI BANK.

In the meantime, NSE Nifty is at 11,374 (up 0.8%). The top gainers in the NSE Nifty include HINDALCO (up 3.7%), TATA STEEL (up 3.3%) and JSW STEEL (up 3.2%). Other gainers include ZEE ENTERTAINMENT (up 3.1%) and ICICI BANK (up 2.5%).

Over the last 12 months, the BSE Sensex has moved up from 36,958 to 38,551, registering a gain of 1,593 points (up 4.1%).

NIIT TECHNOLOGIES Financial Update...

NIIT TECHNOLOGIES net profit down at Rs 1 billion for the quarter ended March 2020, compared to a loss of Rs 1 billion a year ago. Net Sales rose 3.3% to Rs 11.1 billion during the period as against Rs 10.7 billion in January-March 2019.

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 27.2x.



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