TECH MAHINDRA Surges by 5%; BSE IT Index Up 3.6%

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TECH MAHINDRA Surges by 5%; BSE IT Index Up 3.6%
Tue, 24 Mar 09:40 AM

TECH MAHINDRA share price has zoomed 5% and is presently trading at Rs 540.

Meanwhile, the BSE IT Index is at 12,048 (up 3.6%).

Among the top Gainers in the BSE IT Index today are TECH MAHINDRA (up 4.7%) and MINDTREE (up 6.5%).

TATA ELXSI (down 0.1%) and FIRSTSOURCE SOL. (down 0.6%) are among the top losers today.

Over the last one year, TECH MAHINDRA has moved down from Rs 790 to Rs 540, registering a loss of Rs 250 (down 35.0%).

On the other hand, the BSE IT has moved down from 15,109 to 12,048, loss of 3,061 points (down 23.2%) 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 27,463 (up 0.9%).

The top gainers among the BSE Sensex stocks today are HUL (up 6.0%), HCL TECHNOLOGIES (up 5.6%) and INFOSYS (up 5.6%). Other gainers include TECH MAHINDRA (up 4.7%) and MARUTI SUZUKI (up 3.3%). The most traded stocks in the BSE Sensex are SBI and ONGC.

In the meantime, NSE Nifty is at 8,037 (up 1.1%). The top gainers in the NSE Nifty include HUL (up 6.2%), HCL TECHNOLOGIES (up 5.8%) and INFOSYS (up 5.6%). Other gainers include TECH MAHINDRA (up 5.3%) and DR. REDDYS LAB (up 4.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,809 to 27,463, registering a loss of 10,346 points (down 30.68%).

TECH MAHINDRA Financial Update...

TECH MAHINDRA net profit down at Rs 11 billion for the quarter ended December 2019, compared to a loss of Rs 12 billion a year ago. Net Sales rose 7.9% to Rs 96.5 billion during the period as against Rs 89.4 billion in October-December 2018.

For the year ended March 2019, TECH MAHINDRA reported 15.0% increase in net profit to Rs 43.5 billion compared to net profit of Rs 37.9 billion during FY18.

Revenue of the company grew 12.9% to Rs 347 billion during FY19.

The current Price to earnings ratio of TECH MAHINDRA, based on rolling 12 month earnings, stands at 10.6x.

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