ECLERX SERVICES Surges by 6%; BSE IT Index Up 1.3%

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ECLERX SERVICES Surges by 6%; BSE IT Index Up 1.3%
Tue, 3 Mar 03:30 PM

ECLERX SERVICES share price has zoomed 6% and is presently trading at Rs 551.

Meanwhile, the BSE IT Index is at 15,451 (up 1.3%).

Among the top Gainers in the BSE IT Index today are ECLERX SERVICES (up 5.5%) and NIIT TECHNOLOGIES (up 6.7%).

ORACLE FINANCIAL (down 1.1%) and MINDTREE (down 1.9%) are among the top losers today.

Over the last one year, ECLERX SERVICES has moved down from Rs 1,035 to Rs 551, registering a loss of Rs 484 (down 47.0%).

On the other hand, the BSE IT has moved up from 15,228 to 15,451, registering a gain of 223 points (up 0.7%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were NIIT TECHNOLOGIES (up 45.1%), INFIBEAM AVENUES (up 43.1%) and L&T INFOTECH LTD (up 16.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 38,754 (up 1.4%).

The top gainers among the BSE Sensex stocks today are SUN PHARMA (up 7.3%), TATA STEEL (up 7.2%) and NTPC (up 5.6%). Other gainers include POWER GRID (up 5.3%) and ONGC (up 5.1%). The most traded stocks in the BSE Sensex are SBI and ONGC.

In the meantime, NSE Nifty is at 11,342 (up 1.8%). VEDANTA LTD (up 8.3%) and SUN PHARMA (up 7.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,443 to 38,754, registering a gain of 2,311 points (up 6.1%).

ECLERX SERVICES Financial Update...

ECLERX SERVICES net profit stood at Rs 701 million for the quarter ended December 2019, compared to a profit of Rs 390 million a year ago. Net Sales rose 5.0% to Rs 3.8 billion during the period as against Rs 3.6 billion in October-December 2018.

For the year ended March 2018, ECLERX SERVICES reported 24.1% decrease in net profit to Rs 2.7 billion compared to net profit of Rs 3.5 billion during FY17.

Revenue of the company grew 2.6% to Rs 14 billion during FY18.

The current Price to earnings ratio of ECLERX SERVICES, based on rolling 12 month earnings, stands at 9.8x.

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