NIIT TECHNOLOGIES at All Time High; BSE IT Index Up 1.2%

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NIIT TECHNOLOGIES at All Time High; BSE IT Index Up 1.2%
Wed, 22 Jan 12:22 PM

NIIT TECHNOLOGIES share price has hit an all-time high at Rs 1,855 (up 2.7%).

Meanwhile, the BSE IT Index is at 16,178 (up 1.2%).

Among the top gainers in the BSE IT Index today are NIIT TECHNOLOGIES (up 2.7%) and ORACLE FINANCIAL (up 0.1%).

TECH MAHINDRA and HEXAWARE TECHNOLOGIES (down 0.1%) are among the top losers today.

Over the last one year, NIIT TECHNOLOGIES has moved up from Rs 1,270 to Rs 1,855, registering a gain of Rs 585 (up 45.7%).

The BSE IT has moved up from 14,764 to 16,178, registering a gain of 1,414 points (up 9.1%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were NIIT TECHNOLOGIES (up 45.7%), PERSISTENT SYSTEMS (up 33.7%) and INFIBEAM AVENUES (up 31.8%).

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What About the Benchmark Indices?

The BSE Sensex is at 41,532 (down 0.4%). The top gainers among the BSE Sensex stocks today are INFOSYS (up 1.5%), NESTLE (up 1.3%) and TCS (up 1.2%). Other gainers include HCL TECHNOLOGIES (up 0.8%) and ULTRATECH CEMENT (up 0.7%). The most traded stocks in the BSE Sensex are SBI and TATA STEEL.

In the meantime, NSE Nifty is at 12,225 (down 0.4%). The top gainers in the NSE Nifty include GRASIM (up 1.9%), INFOSYS (up 1.5%) and NESTLE (up 1.3%). Other gainers include TCS (up 1.2%) and ZEE ENTERTAINMENT (up 1.1%).

Over the last 12 months, the BSE Sensex has moved up from 36,579 to 41,532, registering a gain of 4,953 points (up 12.6%).

NIIT TECHNOLOGIES Financial Update...

NIIT TECHNOLOGIES net profit stood at Rs 1 billion for the quarter ended September 2019, compared to a profit of Rs 1 billion a year ago. Net Sales rose 6.9% to Rs 10.4 billion during the period as against Rs 9.7 billion in July-September 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 26.1x.

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