NIIT TECHNOLOGIES Surges by 5%; BSE IT Index Up 0.4%

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NIIT TECHNOLOGIES Surges by 5%; BSE IT Index Up 0.4%
Fri, 22 May 10:01 AM

NIIT TECHNOLOGIES share price has zoomed 5% and is presently trading at Rs 1,518.

Meanwhile, the BSE IT Index is at 13,890 (up 0.4%).

Among the top Gainers in the BSE IT Index today is NIIT TECHNOLOGIES (up 5.2%).

CYIENT (down 0.2%) and PERSISTENT SYSTEMS (down 0.3%) are among the top losers today.

Over the last one year, NIIT TECHNOLOGIES has moved up from Rs 1,289 to Rs 1,518, registering a gain of Rs 229 (up 17.7%).

On the other hand, the BSE IT has moved down from 15,300 to 13,890, loss of 1,410 points (down 9.5%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were NIIT TECHNOLOGIES (up 17.7%), INFIBEAM AVENUES (up 10.7%) and L&T INFOTECH LTD (up 2.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 31,005 (up 0.1%).

The top gainers among the BSE Sensex stocks today are ULTRATECH CEMENT (up 2.6%), SBI (up 1.6%) and ASIAN PAINTS (up 1.5%). Other gainers include INFOSYS (up 1.3%) and TECH MAHINDRA (up 1.3%). The most traded stocks in the BSE Sensex are SBI and ITC.

In the meantime, NSE Nifty is at 9,121 . The top gainers in the NSE Nifty include ZEE ENTERTAINMENT (up 3.9%), ULTRATECH CEMENT (up 2.1%) and INFOSYS (up 1.4%). Other gainers include ASIAN PAINTS (up 1.4%) and SBI (up 1.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,970 to 31,005, registering a loss of 7,965 points (down 20.54%).

NIIT TECHNOLOGIES Financial Update...

NIIT TECHNOLOGIES net profit down at Rs 1 billion for the quarter ended March 2020, compared to a loss of Rs 1 billion a year ago. Net Sales rose 3.3% to Rs 11.1 billion during the period as against Rs 10.7 billion in January-March 2019.

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 20.0x.



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