TECH MAHINDRA at All Time High; BSE IT Index Down 0.7%

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TECH MAHINDRA at All Time High; BSE IT Index Down 0.7%
Thu, 2 May 10:34 AM

TECH MAHINDRA share price has hit an all-time high at Rs 846 (up 0.6%).

Meanwhile, the BSE IT Index is at 16,263 (down 0.7%).

Among the top gainers in the BSE IT Index today are TECH MAHINDRA (up 0.6%) and ORACLE FINANCIAL (up 0.1%).

NIIT TECHNOLOGIES and HEXAWARE TECHNOLOGIES (down 0.1%) are among the top losers today.

Over the last one year, TECH MAHINDRA has moved up from Rs 672 to Rs 846, registering a gain of Rs 174 (up 25.0%).

The BSE IT has moved up from 13,568 to 16,263, registering a gain of 2,695 points (up 19.0%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were WIPRO (up 42.1%), L&T TECHONOLOGY (up 32.7%) and TCS (up 26.9%).

Revealed: Top 3 Stocks for 2020 and Beyond

What About the Benchmark Indices?

The BSE Sensex is at 39,184 (up 0.3%). The top gainers among the BSE Sensex stocks today are YES BANK (up 4.3%), BHARTI AIRTEL (up 2.6%) and BAJAJ FINANCE (up 1.7%). Other gainers include RELIANCE IND. (up 1.5%) and HERO MOTOCORP (up 1.5%). The most traded stocks in the BSE Sensex are YES BANK and ITC.

In the meantime, NSE Nifty is at 11,785 (up 0.3%). The top gainers in the NSE Nifty include YES BANK (up 4.2%), BHARTI INFRATEL (up 2.8%) and BHARTI AIRTEL (up 2.3%). Other gainers include BAJAJ FINANCE (up 1.6%) and INDIABULLS HOU. FIN. (up 1.6%).

Over the last 12 months, the BSE Sensex has moved up from 35,160 to 39,184, registering a gain of 4,024 points (up 11.4%).

TECH MAHINDRA Financial Update...

TECH MAHINDRA net profit stood at Rs 12 billion for the quarter ended December 2018, compared to a profit of Rs 9 billion a year ago. Net Sales rose 15.0% to Rs 89.4 billion during the period as against Rs 77.8 billion in October-December 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 16.8x.



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