NIIT TECHNOLOGIES at All Time High; BSE IT Index Up 1.6%

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NIIT TECHNOLOGIES at All Time High; BSE IT Index Up 1.6%
Mon, 4 Nov 11:16 AM

NIIT TECHNOLOGIES share price has hit an all-time high at Rs 1,595 (up 2.4%).

Meanwhile, the BSE IT Index is at 15,569 (up 1.6%).

Among the top gainers in the BSE IT Index today are NIIT TECHNOLOGIES (up 2.4%) and ORACLE FINANCIAL (up 0.5%).

L&T TECHONOLOGY (down 0.1%) and L&T INFOTECH LTD (down 0.7%) are among the top losers today.

Over the last one year, NIIT TECHNOLOGIES has moved up from Rs 1,195 to Rs 1,595, registering a gain of Rs 400 (up 33.4%).

The BSE IT has moved up from 14,273 to 15,569, registering a gain of 1,296 points (up 8.7%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INFIBEAM AVENUES (up 39.3%), NIIT TECHNOLOGIES (up 33.4%) and HCL TECHNOLOGIES (up 15.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 40,452 (up 0.6%). The top gainers among the BSE Sensex stocks today are TATA STEEL (up 4.8%), VEDANTA LTD (up 4.6%) and INFOSYS (up 3.2%). Other gainers include ICICI BANK (up 2.0%) and BAJAJ FINANCE (up 1.9%). The most traded stocks in the BSE Sensex are YES BANK and VEDANTA LTD.

In the meantime, NSE Nifty is at 11,985 (up 0.8%). The top gainers in the NSE Nifty include JSW STEEL (up 6.2%), TATA STEEL (up 4.8%) and BHARTI INFRATEL (up 4.8%). Other gainers include VEDANTA LTD (up 4.3%) and INFOSYS (up 4.1%).

Over the last 12 months, the BSE Sensex has moved up from 34,432 to 40,452, registering a gain of 6,020 points (up 17.4%).

NIIT TECHNOLOGIES Financial Update...

NIIT TECHNOLOGIES net profit stood at Rs 1 billion for the quarter ended September 2019, compared to a profit of Rs 1 billion a year ago. Net Sales rose 6.9% to Rs 10.4 billion during the period as against Rs 9.7 billion in July-September 2018.

For the year ended March 2018, NIIT TECHNOLOGIES reported 4.9% increase in net profit to Rs 3.1 billion compared to net profit of Rs 2.9 billion during FY17.

Revenue of the company grew 6.8% to Rs 30 billion during FY18.

The current Price to earnings ratio of NIIT TECHNOLOGIES, based on rolling 12 month earnings, stands at 22.5x.



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