MINDTREE at All Time High; BSE IT Index Up 0.1%

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MINDTREE at All Time High; BSE IT Index Up 0.1%
Fri, 18 Sep 09:24 AM

MINDTREE share price has hit an all-time high at Rs 1,290 (up 0.5%).

Meanwhile, the BSE IT Index is at 20,003 (up 0.1%).

Among the top gainers in the BSE IT Index today are MINDTREE (up 0.5%) and ORACLE FINANCIAL (up 0.1%).

L&T TECHONOLOGY and INFOSYS (down 0.2%) are among the top losers today.

Over the last one year, MINDTREE has moved up from Rs 682 to Rs 1,290, registering a gain of Rs 608 (up 87.8%).

The BSE IT has moved up from 15,994 to 20,003, registering a gain of 4,009 points (up 24.5%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were PERSISTENT SYSTEMS (up 100.5%), INFIBEAM AVENUES (up 99.6%) and TATA ELXSI (up 95.1%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,200 (up 0.4%). The top gainers among the BSE Sensex stocks today are SUN PHARMA (up 1.6%), TATA STEEL (up 1.0%) and TCS (up 0.9%). Other gainers include ULTRATECH CEMENT (up 0.8%) and ASIAN PAINTS (up 0.8%). The most traded stocks in the BSE Sensex are SBI and ITC.

In the meantime, NSE Nifty is at 11,584 (up 0.4%). The top gainers in the NSE Nifty include CIPLA (up 3.9%), DR. REDDYS LAB (up 3.8%) and SUN PHARMA (up 2.3%). Other gainers include HERO MOTOCORP (up 1.3%) and TATA MOTORS (up 0.9%).

Over the last 12 months, the BSE Sensex has moved up from 37,123 to 39,200, registering a gain of 2,077 points (up 5.5%).

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 33.3x.



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