TECH MAHINDRA at All Time High; BSE IT Index Up 0.2%

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TECH MAHINDRA at All Time High; BSE IT Index Up 0.2%
Mon, 7 Dec 10:34 AM

TECH MAHINDRA share price has hit an all-time high at Rs 933 (up 0.9%).

Meanwhile, the BSE IT Index is at 22,394 (up 0.2%).

Among the top gainers in the BSE IT Index today are TECH MAHINDRA (up 0.9%) and L&T INFOTECH (up 0.5%).

HEXAWARE TECHNOLOGIES and WIPRO (down 0.2%) are among the top losers today.

Over the last one year, TECH MAHINDRA has moved up from Rs 746 to Rs 933, registering a gain of Rs 187 (up 24.7%).

The BSE IT has moved up from 14,837 to 22,394, registering a gain of 7,557 points (up 50.3%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were TATA ELXSI (up 116.5%), MINDTREE (up 103.5%) and L&T INFOTECH (up 102.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 45,292 (up 0.1%). The top gainers among the BSE Sensex stocks today are ONGC (up 2.2%), NTPC (up 1.8%) and SUN PHARMA (up 1.7%). Other gainers include BHARTI AIRTEL (up 1.7%) and ICICI BANK (up 1.6%). The most traded stocks in the BSE Sensex are ONGC and ITC.

In the meantime, NSE Nifty is at 13,322 (up 0.2%). The top gainers in the NSE Nifty include ADANI PORTS & SEZ (up 3.7%), DR. REDDYS LAB (up 2.6%) and UPL (up 2.6%). Other gainers include ONGC (up 2.1%) and HUL (up 1.9%).

Over the last 12 months, the BSE Sensex has moved up from 40,675 to 45,292, registering a gain of 4,617 points (up 11.0%).

TECH MAHINDRA Financial Update...

TECH MAHINDRA net profit down at Rs 11 billion for the quarter ended September 2020, compared to a loss of Rs 11 billion a year ago. Net Sales declined 2.9% to Rs 93.7 billion during the period as against Rs 96.5 billion in July-September 2019.

For the year ended March 2020, TECH MAHINDRA reported 12.0% decrease in net profit to Rs 38.3 billion compared to net profit of Rs 43.5 billion during FY19.

Revenue of the company grew 6.1% to Rs 369 billion during FY20.

The current Price to earnings ratio of TECH MAHINDRA, based on rolling 12 month earnings, stands at 23.3x.



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