NIIT TECHNOLOGIES Plunges by 9%; BSE IT Index Up 4.5%

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NIIT TECHNOLOGIES Plunges by 9%; BSE IT Index Up 4.5%
Tue, 24 Mar 12:23 PM

NIIT TECHNOLOGIES share price has plunged 9% and is presently trading at Rs 932.

Meanwhile, the BSE IT Index is at 12,048 (up 4.5%).

Among the top losers in the BSE IT Index today are NIIT TECHNOLOGIES (down 8.8%) and CYIENT (down 5.1%).

INFOSYS (up 7.5%) and MINDTREE (up 7.4%) are among the top gainers today.

Over the last one year, NIIT TECHNOLOGIES has moved down from Rs 1,317 to Rs 932, registering a loss of Rs 385 (down 29.2%)..

The BSE IT has moved down from 15,109 to 12,048, loss of 3,061 points (down 20.3%) during the last 12 months.

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What About the Benchmark Indices?

The BSE Sensex is at 27,463 (up 2.3%). The top gainers among the BSE Sensex stocks today are HUL (up 8.5%). The most traded stocks in the BSE Sensex are SBI and ONGC.

In the meantime, NSE Nifty is at 8,037 (up 1.9%). BRITANNIA (up 13.4%) and ADANI PORTS & SEZ (up 10.6%) 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 29.69%).

NIIT TECHNOLOGIES Financial Update...

NIIT TECHNOLOGIES net profit stood at Rs 1 billion for the quarter ended December 2019, compared to a profit of Rs 1 billion a year ago. Net Sales rose 10.5% to Rs 10.7 billion during the period as against Rs 9.7 billion in October-December 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 10.5x.



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