NIIT TECHNOLOGIES Plunges by 7%; BSE IT Index Down 4.7%
March 16, 2020 12:50 PM

NIIT TECHNOLOGIES share price has plunged 7% and is presently trading at Rs 1,341.

Meanwhile, the BSE IT Index is at 13,180 (down 4.7%).

Among the top losers in the BSE IT Index today are NIIT TECHNOLOGIES (down 7.0%) and L&T INFOTECH LTD (down 5.7%).

Over the last one year, NIIT TECHNOLOGIES has moved up from Rs 1,334 to Rs 1,341, registering a gain of Rs 7 (up 0.5%)..

The BSE IT has moved down from 14,961 to 13,180, loss of 1,781 points (down 11.9%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were [param_historic_top3].

What About the Benchmark Indices?

The BSE Sensex is at 33,103 (down 5.4%). The top gainers among the BSE Sensex stocks today are BAJAJ AUTO (up 0.5%). The most traded stocks in the BSE Sensex are BAJAJ AUTO.

In the meantime, NSE Nifty is at 9,602 (down 5.1%). YES BANK (up 41.1%) and BAJAJ AUTO (up 1.1%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,752 to 33,103, registering a loss of 4,649 points (down 14.50%).

NIIT TECHNOLOGIES Financial Update...

NIIT TECHNOLOGIES net profit stood at Rs 1 billion for the quarter ended December 2019, compared to a profit of Rs 1 billion a year ago. Net Sales rose 10.5% to Rs 10.7 billion during the period as against Rs 9.7 billion in October-December 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 17.1x.