MINDTREE Share Price Up by 5%; BSE IT Index Up 1.9%

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MINDTREE Share Price Up by 5%; BSE IT Index Up 1.9%
Tue, 2 Mar 12:22 PM

MINDTREE share price has zoomed 5% and is presently trading at Rs 1,715.

Meanwhile, the BSE IT Index is at 25,264 (up 1.9%).

Among the top Gainers in the BSE IT Index today is MINDTREE (up 5.0%).

PERSISTENT SYSTEMS (down 0.8%) and TATA ELXSI (down 1.4%) are among the top losers today.

Over the last one year, MINDTREE has moved up from Rs 1,028 to Rs 1,715, registering a gain of Rs 686 (up 66.7%).

On the other hand, the BSE IT has moved up from 16,023 to 25,264, registering a gain of 9,241 points (up 57.2%) during the last 12 months.

The top buzzing stocks among the BSE IT Index stocks during this same period were INTELLECT DESIGN (up 250.4%), TATA ELXSI (up 168.8%) and PERSISTENT SYSTEMS (up 132.8%).

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

What About the Benchmark Indices?

The BSE Sensex is at 50,425 (up 0.4%).

The top gainers among the BSE Sensex stocks today are M&M (up 4.4%), TECH MAHINDRA (up 2.7%) and INFOSYS (up 2.0%). Other gainers include BAJAJ AUTO (up 2.0%) and TCS (up 1.7%). The most traded stocks in the BSE Sensex are NTPC and ITC.

In the meantime, NSE Nifty is at 14,934 (up 0.6%). The top gainers in the NSE Nifty include M&M (up 4.4%), BPCL (up 3.9%) and HERO MOTOCORP (up 3.5%). Other gainers include WIPRO (up 3.5%) and TATA MOTORS (up 3.1%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 39,889 to 50,425, registering a gain of 10,536 points (up 25.50%).

MINDTREE Financial Update...

MINDTREE net profit stood at Rs 3 billion for the quarter ended December 2020, compared to a profit of Rs 2 billion a year ago. Net Sales rose 3.0% to Rs 20.2 billion during the period as against Rs 19.7 billion in October-December 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 28.2x.



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