INFOSYS Surges by 5%; BSE IT Index Up 3.3%

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INFOSYS Surges by 5%; BSE IT Index Up 3.3%
Thu, 26 Mar 09:36 AM

INFOSYS share price has zoomed 5% and is presently trading at Rs 640.

Meanwhile, the BSE IT Index is at 12,714 (up 3.3%).

Among the top Gainers in the BSE IT Index today are INFOSYS (up 5.4%) and NIIT TECHNOLOGIES (up 10.0%).

ECLERX SERVICES (down 0.6%) and CYIENT (down 2.0%) are among the top losers today.

Over the last one year, INFOSYS has moved down from Rs 736 to Rs 640, registering a loss of Rs 96 (down 13.2%).

On the other hand, the BSE IT has moved down from 15,109 to 12,714, loss of 2,395 points (down 15.9%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were NIIT TECHNOLOGIES (up 4.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 29,084 (up 1.9%).

The top gainers among the BSE Sensex stocks today are INDUSIND BANK (up 10.0%), AXIS BANK (up 8.6%) and INFOSYS (up 5.4%). Other gainers include TECH MAHINDRA (up 4.6%) and HDFC (up 4.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 8,478 (up 1.9%). The top gainers in the NSE Nifty include INDUSIND BANK (up 10.0%), AXIS BANK (up 9.3%) and INFOSYS (up 5.4%). Other gainers include TECH MAHINDRA (up 4.8%) and HDFC (up 4.7%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,809 to 29,084, registering a loss of 8,725 points (down 23.11%).

INFOSYS Financial Update...

INFOSYS net profit stood at Rs 45 billion for the quarter ended December 2019, compared to a profit of Rs 36 billion a year ago. Net Sales rose 7.9% to Rs 230.9 billion during the period as against Rs 214.0 billion in October-December 2018.

For the year ended March 2019, INFOSYS reported 4.3% decrease in net profit to Rs 154.1 billion compared to net profit of Rs 161.0 billion during FY18.

Revenue of the company grew 17.2% to Rs 827 billion during FY19.

The current Price to earnings ratio of INFOSYS, based on rolling 12 month earnings, stands at 16.9x.



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