L&T INFOTECH LTD at All Time High; BSE IT Index Down 0.1%
July 9, 2020 12:08 PM

L&T INFOTECH LTD share price has hit an all-time high at Rs 2,097 (up 1.2%).

Meanwhile, the BSE IT Index is at 15,879 (down 0.1%).

Among the top gainers in the BSE IT Index today are L&T INFOTECH LTD (up 1.2%) and NIIT TECHNOLOGIES (up 1.5%).

MINDTREE (down 0.2%) and TCS (down 0.8%) are among the top losers today.

Over the last one year, L&T INFOTECH LTD has moved up from Rs 1,633 to Rs 2,097, registering a gain of Rs 464 (up 27.3%).

The BSE IT has moved up from 15,235 to 15,879, registering a gain of 644 points (up 2.8%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INFIBEAM AVENUES (up 57.4%), MINDTREE (up 28.3%) and L&T INFOTECH LTD (up 27.3%).

What About the Benchmark Indices?

The BSE Sensex is at 36,636 (up 0.7%). The top gainers among the BSE Sensex stocks today are BAJAJ FINANCE (up 4.2%), TATA STEEL (up 3.3%) and BAJAJ FINSERV (up 2.8%). Other gainers include HDFC (up 2.5%) and AXIS BANK (up 2.1%). The most traded stocks in the BSE Sensex are SBI and INDUSIND BANK.

In the meantime, NSE Nifty is at 10,792 (up 0.7%). The top gainers in the NSE Nifty include HINDALCO (up 4.6%), BAJAJ FINANCE (up 4.0%) and GAIL (up 3.4%). Other gainers include TATA STEEL (up 3.3%) and BAJAJ FINSERV (up 2.7%).

Over the last 12 months, the BSE Sensex has moved down from 38,721 to 36,636, registering a loss of 2,085 points (down 5.5%).

L&T INFOTECH LTD Financial Update...

L&T INFOTECH LTD net profit stood at Rs 4 billion for the quarter ended March 2020, compared to a profit of Rs 4 billion a year ago. Net Sales rose 7.1% to Rs 30.1 billion during the period as against Rs 28.1 billion in January-March 2019.

For the year ended March 2019, L&T INFOTECH LTD reported 36.2% increase in net profit to Rs 15.2 billion compared to net profit of Rs 11.1 billion during FY18.

Revenue of the company grew 29.3% to Rs 94 billion during FY19.

The current Price to earnings ratio of L&T INFOTECH LTD, based on rolling 12 month earnings, stands at 23.7x.