TECH MAHINDRA Surges by 6%; BSE IT Index Up 1.3%

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TECH MAHINDRA Surges by 6%; BSE IT Index Up 1.3%
Wed, 6 Feb 09:30 AM

TECH MAHINDRA share price has zoomed 6% and is presently trading at Rs 792.

Meanwhile, the BSE IT Index is at 15,652 (up 1.3%).

Among the top Gainers in the BSE IT Index today is TECH MAHINDRA (up 5.6%).

ECLERX SERVICES (down 0.9%) and PERSISTENT SYSTEMS (down 1.2%) are among the top losers today.

Over the last one year, TECH MAHINDRA has moved up from Rs 629 to Rs 792, registering a gain of Rs 163 (up 25.9%).

On the other hand, the BSE IT has moved up from 12,458 to 15,652, registering a gain of 3,194 points (up 25.6%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were NIIT TECHNOLOGIES (up 60.5%), L&T INFOTECH LTD (up 45.0%) and INFOSYS LTD (up 34.2%).

Revealed: Top 3 Stocks for 2020 and Beyond

What About the Benchmark Indices?

The BSE Sensex is at 36,884 (up 0.7%).

The top gainers among the BSE Sensex stocks today are HCL TECH. (up 1.5%), RELIANCE IND. (up 1.5%) and INFOSYS LTD (up 1.3%). Other gainers include ONGC (up 1.2%) and YES BANK (up 1.2%). The most traded stocks in the BSE Sensex are YES BANK and VEDANTA LTD.

In the meantime, NSE Nifty is at 11,019 (up 0.7%). TECH MAHINDRA (up 5.0%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 34,757 to 36,884, registering a gain of 2,127 points (up 6.1%).

TECH MAHINDRA Financial Update...

TECH MAHINDRA net profit stood at Rs 11 billion for the quarter ended September 2018, compared to a profit of Rs 9 billion a year ago. Net Sales rose 11.0% to Rs 86.3 billion during the period as against Rs 77.8 billion in July-September 2017.

For the year ended March 2018, TECH MAHINDRA reported 32.7% increase in net profit to Rs 37.9 billion compared to net profit of Rs 28.5 billion during FY17.

Revenue of the company grew 5.6% to Rs 308 billion during FY18.

The current Price to earnings ratio of TECH MAHINDRA, based on rolling 12 month earnings, stands at 16.9x.



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