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Indian Stock Market Updates March 18, 2020

MINDTREE Plunges by 6%; BSE IT Index Up 0.1%
Wed, 18 Mar 12:56 PM

MINDTREE share price has plunged 6% and is presently trading at Rs 930.

Meanwhile, the BSE IT Index is at 12,252 (up 0.1%).

Among the top losers in the BSE IT Index today are MINDTREE (down 5.5%) and L&T INFOTECH LTD (down 7.6%).

TCS (up 1.5%) and INFOSYS (up 1.0%) are among the top gainers today.

Over the last one year, MINDTREE has moved down from Rs 962 to Rs 930, registering a loss of Rs 33 (down 3.4%)..

The BSE IT has moved down from 14,985 to 12,252, loss of 2,733 points (down 18.2%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were [param_historic_top3].

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What About the Benchmark Indices?

The BSE Sensex is at 31,102 (down 3.8%). The top gainers among the BSE Sensex stocks today are TCS (up 1.5%), INFOSYS (up 1.0%) and ITC (up 0.8%). Other gainer include TECH MAHINDRA (up 0.3%). The most traded stocks in the BSE Sensex are INFOSYS and ITC.

In the meantime, NSE Nifty is at 9,128 (down 4.0%). ZEE ENTERTAINMENT (up 9.1%) and YES BANK (up 3.4%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,095 to 31,102, registering a loss of 6,993 points (down 22.77%).

MINDTREE Financial Update...

MINDTREE net profit stood at Rs 2 billion for the quarter ended December 2019, compared to a profit of Rs 2 billion a year ago. Net Sales rose 10.0% to Rs 19.7 billion during the period as against Rs 17.9 billion in October-December 2018.

For the year ended March 2019, MINDTREE reported 32.3% increase in net profit to Rs 7.5 billion compared to net profit of Rs 5.7 billion during FY18.

Revenue of the company grew 28.5% to Rs 70 billion during FY19.

The current Price to earnings ratio of MINDTREE, based on rolling 12 month earnings, stands at 21.3x.

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