MINDTREE Plunges by 9%; BSE IT Index Down 4.2%

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MINDTREE Plunges by 9%; BSE IT Index Down 4.2%
Thu, 19 Mar 09:40 AM

MINDTREE share price has plunged 9% and is presently trading at Rs 788.

Meanwhile, the BSE IT Index is at 11,297 (down 4.2%).

Among the top losers in the BSE IT Index today are MINDTREE (down 9.2%) and ORACLE FINANCIAL (down 5.2%).

MPHASIS (up 0.5%) is among the top gainer today.

Over the last one year, MINDTREE has moved down from Rs 962 to Rs 788, registering a loss of Rs 175 (down 18.2%)..

The BSE IT has moved down from 14,985 to 11,297, loss of 3,688 points (down 24.6%) 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 27,773 (down 6.3%). The top gainers among the BSE Sensex stocks today are POWER GRID (up 2.2%) and NTPC (up 0.7%). The most traded stocks in the BSE Sensex are NTPC and POWER GRID.

In the meantime, NSE Nifty is at 8,099 (down 6.0%). NTPC (up 4.1%) and POWER GRID (up 1.9%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,095 to 27,773, registering a loss of 10,322 points (down 28.98%).

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 19.3x.

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