MINDTREE LTD Surges by 5%; BSE IT Index Up 2.2%

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MINDTREE LTD Surges by 5%; BSE IT Index Up 2.2%
Wed, 31 Oct 11:29 AM

MINDTREE LTD share price has zoomed 5% and is presently trading at Rs 828.

Meanwhile, the BSE IT Index is at 14,344 (up 2.2%).

Among the top Gainers in the BSE IT Index today are MINDTREE LTD (up 5.2%) and TECH MAHINDRA (up 7.6%).

WIPRO (down 1.2%) is among the top loser today.

Over the last one year, MINDTREE LTD has moved up from Rs 479 to Rs 828, registering a gain of Rs 349 (up 72.7%).

On the other hand, the BSE IT has moved up from 10,429 to 14,344, registering a gain of 3,915 points (up 37.5%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were L&T INFOTECH LTD (up 111.8%), L&T TECHONOLOGY SERVICES (up 110.6%) and NIIT TECHNOLOGIES (up 92.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 34,050 (down 0.2%).

The top gainers among the BSE Sensex stocks today are INFOSYS LTD (up 3.5%), HDFC (up 2.2%) and SUN PHARMA (up 1.6%). Other gainers include INDUSIND BANK (up 1.1%) and AXIS BANK (up 1.1%). The most traded stocks in the BSE Sensex are YES BANK and RELIANCE IND..

In the meantime, NSE Nifty is at 10,246 (down 0.1%). TECH MAHINDRA (up 7.6%) and INFOSYS LTD (up 3.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,266 to 34,050, registering a gain of 784 points (up 1.7%).

MINDTREE LTD Financial Update...

MINDTREE LTD net profit stood at Rs 2 billion for the quarter ended September 2018, compared to a profit of Rs 1 billion a year ago. Net Sales rose 27.4% to Rs 17.6 billion during the period as against Rs 13.8 billion in July-September 2017.

For the year ended March 2018, MINDTREE LTD reported 36.2% increase in net profit to Rs 5.7 billion compared to net profit of Rs 4.2 billion during FY17.

Revenue of the company grew 4.3% to Rs 55 billion during FY18.

The current Price to earnings ratio of MINDTREE LTD, based on rolling 12 month earnings, stands at 19.7x.



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