MINDTREE at All Time High; BSE IT Index Up 2.5%

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MINDTREE at All Time High; BSE IT Index Up 2.5%
Mon, 5 Oct 09:32 AM

MINDTREE share price has hit an all-time high at Rs 1,368 (up 2.1%).

Meanwhile, the BSE IT Index is at 20,665 (up 2.5%).

Among the top gainers in the BSE IT Index today are MINDTREE (up 2.1%) and ORACLE FINANCIAL (up 0.9%).

MPHASIS (down 1.2%) is among the top loser today.

Over the last one year, MINDTREE has moved up from Rs 708 to Rs 1,368, registering a gain of Rs 660 (up 92.8%).

The BSE IT has moved up from 15,670 to 20,665, registering a gain of 4,995 points (up 31.9%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were PERSISTENT SYSTEMS (up 130.2%), TATA ELXSI (up 93.5%) and INFIBEAM AVENUES (up 93.0%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,149 (up 1.1%). The top gainers among the BSE Sensex stocks today are INDUSIND BANK (up 5.7%), TCS (up 4.1%) and TATA STEEL (up 3.1%). Other gainers include ICICI BANK (up 2.4%) and AXIS BANK (up 2.4%). The most traded stocks in the BSE Sensex are HCL TECHNOLOGIES and SBI.

In the meantime, NSE Nifty is at 11,542 (up 1.0%). The top gainers in the NSE Nifty include INDUSIND BANK (up 5.0%), TATA STEEL (up 4.0%) and TCS (up 3.4%). Other gainers include WIPRO (up 3.4%) and ICICI BANK (up 2.5%).

Over the last 12 months, the BSE Sensex has moved up from 38,667 to 39,149, registering a gain of 482 points (up 1.2%).

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 35.5x.



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