MINDTREE at All Time High; BSE IT Index Up 1.1%
March 10, 2021 09:30 AM

MINDTREE share price has hit an all-time high at Rs 1,844 (up 1.4%).

Meanwhile, the BSE IT Index is at 26,236 (up 1.1%).

Among the top gainers in the BSE IT Index today are MINDTREE (up 1.4%) and L&T INFOTECH (up 1.9%).

HEXAWARE TECHNOLOGIES is among the top loser today.

Over the last one year, MINDTREE has moved up from Rs 905 to Rs 1,844, registering a gain of Rs 939 (up 100.9%).

The BSE IT has moved up from 14,554 to 26,236, registering a gain of 11,682 points (up 79.9%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INTELLECT DESIGN (up 366.6%), TATA ELXSI (up 187.0%) and FIRSTSOURCE SOLUTIONS (up 162.1%).

What About the Benchmark Indices?

The BSE Sensex is at 51,430 (up 0.6%). The top gainers among the BSE Sensex stocks today are INDUSIND BANK (up 3.3%), M&M (up 1.5%) and BAJAJ FINANCE (up 1.4%). Other gainers include SUN PHARMA (up 1.3%) and SBI (up 1.1%). The most traded stocks in the BSE Sensex are SBI and INFOSYS.

In the meantime, NSE Nifty is at 15,218 (up 0.6%). The top gainers in the NSE Nifty include INDUSIND BANK (up 3.3%), EICHER MOTOR (up 1.8%) and M&M (up 1.6%). Other gainers include CIPLA (up 1.5%) and JSW STEEL (up 1.5%).

Over the last 12 months, the BSE Sensex has moved up from 35,635 to 51,430, registering a gain of 15,795 points (up 44.1%).

MINDTREE Financial Update...

MINDTREE net profit stood at Rs 3 billion for the quarter ended December 2020, compared to a profit of Rs 2 billion a year ago. Net Sales rose 3.0% to Rs 20.2 billion during the period as against Rs 19.7 billion in October-December 2019.

For the year ended March 2019, MINDTREE reported 32.3% increase in net profit to Rs 7.5 billion compared to net profit of Rs 5.7 billion during FY18.

Revenue of the company grew 28.5% to Rs 70 billion during FY19.

The current Price to earnings ratio of MINDTREE, based on rolling 12 month earnings, stands at 29.9x.