NIIT TECHNOLOGIES Surges by 20%; BSE IT Index Up 6.7%

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NIIT TECHNOLOGIES Surges by 20%; BSE IT Index Up 6.7%
Tue, 24 Mar 03:33 PM

NIIT TECHNOLOGIES share price has zoomed 20% and is presently trading at Rs 1,035.

Meanwhile, the BSE IT Index is at 12,104 (up 6.7%).

Among the top Gainers in the BSE IT Index today are NIIT TECHNOLOGIES (up 20.0%) and L&T TECHONOLOGY (up 12.7%).

SONATA SOFTWARE (down 4.1%) and CYIENT (down 5.7%) are among the top losers today.

Over the last one year, NIIT TECHNOLOGIES has moved down from Rs 1,317 to Rs 1,035, registering a loss of Rs 282 (down 21.4%).

On the other hand, the BSE IT has moved down from 15,109 to 12,104, loss of 3,005 points (down 20.9%) during the last 12 months.

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What About the Benchmark Indices?

The BSE Sensex is at 27,463 (up 2.8%).

The top gainers among the BSE Sensex stocks today are INFOSYS (up 12.4%), BAJAJ FINANCE (up 10.2%) and MARUTI SUZUKI (up 7.3%). Other gainers include HUL (up 6.9%) and KOTAK MAHINDRA BANK (up 6.3%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 8,037 (up 3.2%). The top gainers in the NSE Nifty include INFOSYS (up 14.0%), ADANI PORTS & SEZ (up 13.8%) and BRITANNIA (up 11.8%). Other gainers include BAJAJ FINANCE (up 10.8%) and MARUTI SUZUKI (up 7.7%) 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 29.34%).

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 13.9x.



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