BIRLASOFT Surges by 6%; BSE IT Index Up 1.1%

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BIRLASOFT Surges by 6%; BSE IT Index Up 1.1%
Tue, 28 May 01 pm

BIRLASOFT share price has zoomed 6% and is presently trading at Rs 98.

Meanwhile, the BSE IT Index is at 15,335 (up 1.1%).

Among the top Gainers in the BSE IT Index today is BIRLASOFT (up 6.3%).

NIIT TECHNOLOGIES (down 0.8%) and PERSISTENT SYSTEMS (down 1.5%) are among the top losers today.

Over the last one year, BIRLASOFT has moved down from Rs 273 to Rs 98, registering a loss of Rs 175 (down 64.2%).

On the other hand, the BSE IT has moved up from 13,316 to 15,335, registering a gain of 2,019 points (up 14.7%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were WIPRO (up 43.8%), L&T TECHONOLOGY (up 35.0%) and HCL TECHNOLOGIES (up 18.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,785 (down 0.2%).

The top gainers among the BSE Sensex stocks today are YES BANK (up 3.5%), COAL INDIA (up 1.5%) and INFOSYS (up 1.2%). Other gainers include TCS (up 1.2%) and RELIANCE IND. (up 1.2%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 11,959 (down 0.3%). ZEE ENTERTAINMENT (up 4.9%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,165 to 39,785, registering a gain of 4,620 points (up 12.6%).

BIRLASOFT Financial Update...

BIRLASOFT net profit stood at Rs 661 million for the quarter ended March 2019, compared to a profit of Rs 378 million a year ago. Net Sales rose 39.8% to Rs 7.9 billion during the period as against Rs 5.6 billion in January-March 2018.

For the year ended March 2018, BIRLASOFT reported 21.9% increase in net profit to Rs 2.6 billion compared to net profit of Rs 2.1 billion during FY17.

Revenue of the company grew 10.3% to Rs 37 billion during FY18.

The current Price to earnings ratio of BIRLASOFT, based on rolling 12 month earnings, stands at 6.7x.



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