NIIT TECHNOLOGIES Surges by 3%; BSE IT Index Up 1.5%

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NIIT TECHNOLOGIES Surges by 3%; BSE IT Index Up 1.5%
Tue, 31 Mar 09:27 AM

NIIT TECHNOLOGIES share price has zoomed 3% and is presently trading at Rs 1,200.

Meanwhile, the BSE IT Index is at 12,858 (up 1.5%).

Among the top Gainers in the BSE IT Index today are NIIT TECHNOLOGIES (up 3.3%) and ORACLE FINANCIAL (up 8.0%).

MINDTREE (down 0.1%) is among the top loser today.

Over the last one year, NIIT TECHNOLOGIES has moved down from Rs 1,336 to Rs 1,200, registering a loss of Rs 136 (down 12.5%).

On the other hand, the BSE IT has moved down from 15,532 to 12,858, loss of 2,674 points (down 18.5%) 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 29,317 (up 1.8%).

The top gainers among the BSE Sensex stocks today are TATA STEEL (up 3.8%), AXIS BANK (up 2.9%) and ICICI BANK (up 2.7%). Other gainers include RELIANCE IND. (up 2.7%) and HDFC (up 2.7%). The most traded stocks in the BSE Sensex are RELIANCE IND. and HDFC.

In the meantime, NSE Nifty is at 8,530 (up 1.9%). The top gainers in the NSE Nifty include HINDALCO (up 6.2%), VEDANTA LTD (up 5.6%) and JSW STEEL (up 5.2%). Other gainers include TATA STEEL (up 4.8%) and ICICI BANK (up 3.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,872 to 29,317, registering a loss of 9,555 points (down 25.50%).

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 15.7x.

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