MINDTREE Surges by 10%; BSE IT Index Up 2.2%

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MINDTREE Surges by 10%; BSE IT Index Up 2.2%
Mon, 27 Apr 11:57 AM

MINDTREE share price has zoomed 10% and is presently trading at Rs 866.

Meanwhile, the BSE IT Index is at 13,335 (up 2.2%).

Among the top Gainers in the BSE IT Index today are MINDTREE (up 10.5%) and TATA ELXSI (up 11.7%).

SONATA SOFTWARE (down 2.0%) is among the top loser today.

Over the last one year, MINDTREE has moved down from Rs 979 to Rs 866, registering a loss of Rs 113 (down 11.9%).

On the other hand, the BSE IT has moved down from 15,912 to 13,335, loss of 2,577 points (down 16.8%) during the last 12 months.

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What About the Benchmark Indices?

The BSE Sensex is at 32,104 (up 2.1%).

The top gainers among the BSE Sensex stocks today are KOTAK MAHINDRA BANK (up 5.5%), AXIS BANK (up 4.8%) and BAJAJ FINANCE (up 4.7%). Other gainers include HDFC (up 4.1%) and INDUSIND BANK (up 3.8%). The most traded stocks in the BSE Sensex are SBI and RELIANCE IND..

In the meantime, NSE Nifty is at 9,377 (up 2.2%). The top gainers in the NSE Nifty include KOTAK MAHINDRA BANK (up 5.6%), HINDALCO (up 5.3%) and AXIS BANK (up 4.8%). Other gainers include BAJAJ FINANCE (up 4.8%) and HDFC (up 4.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 39,055 to 32,104, registering a loss of 6,951 points (down 18.07%).

MINDTREE Financial Update...

MINDTREE net profit stood at Rs 2 billion for the quarter ended March 2020, compared to a profit of Rs 2 billion a year ago. Net Sales rose 4.3% to Rs 20.5 billion during the period as against Rs 19.7 billion in January-March 2019.

For the year ended March 2019, MINDTREE reported 32.3% increase in net profit to Rs 7.5 billion compared to net profit of Rs 5.7 billion during FY18.

Revenue of the company grew 28.5% to Rs 70 billion during FY19.

The current Price to earnings ratio of MINDTREE, based on rolling 12 month earnings, stands at 22.5x.



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