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3I Infotech Gains 5%; BSE IT Index Up 4.0%
Wed, 6 Nov 15:10

3I Infotech Gains 5%; BSE IT Index Up 4.0%Image source: DNY59/www.istockphoto.com

3I Infotech share price has zoomed 5% and is presently trading at Rs 29.2.

Meanwhile, the BSE IT index is at 42,070.5 (up 4.0%).

Among the top gainers in the BSE IT index today are Eclerx Services (up 9.1%) and KPIT TECHNOLOGIES (up 7.3%).

Over the last one year, 3I Infotech has moved down from Rs 37.7 to Rs 29.2, registering a loss of Rs 8.6 (down 22.7%).

On the other hand, the BSE IT index has moved up from 31,589.8 to 42,070.5, registering a gain of 33.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 190.2%), Firstsource Solutions (up 139.0%) and PERSISTENT SYSTEMS (up 82.7%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,377.3 (up 1.1%).

The top gainers among the BSE Sensex today are TCS (up 4.2%) and Infosys (up 4.0%). The most traded stocks in the BSE Sensex are ITC and Tata Steel.

In the meantime, NSE Nifty is at 24,490.0 (up 1.1%). Bharat Electronics and Adani Enterprises are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,958.7 to 80,377.3, registering a gain of 15,418.6 points (up 23.7%).

3I Infotech Financial Update...

3I Infotech net profit grew 97.2% YoY to Rs -43 million for the quarter ended September 2024, compared to a loss of Rs 1,542 million a year ago. Net sales declined 15.5% to Rs 1,776 million during the period as against Rs 2,103 million in July-September 2023.

For the year ended March 2024, 3I Infotech reported 21871.5% decrease in net profit to Rs -2,983 million compared to net profit of Rs 14 million during FY23. Revenue of the company grew 11.6% to Rs 8,139 million during FY24.

The current Price to earnings ratio of 3I Infotech, based on rolling 12 month earnings, stands at -3.5.

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