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3I Infotech Gains 6%; BSE IT Index Up 1.6%
Wed, 28 Aug 11:29

3I Infotech Gains 6%; BSE IT Index Up 1.6%Image source: phive2015/www.istockphoto.com

3I Infotech share price has zoomed 6% and is presently trading at Rs 37.2.

Meanwhile, the BSE IT index is at 43,369.1 (up 1.6%).

Among the top gainers in the BSE IT index today are LTIMINDTREE (up 5.7%) and Coforge (up 3.8%).

Tata Elxsi (down 5.4%) and TANLA SOLUTIONS (down 0.4%) are among the top losers today.

Over the last one year, 3I Infotech has moved up from Rs 32.1 to Rs 37.2, registering a gain of Rs 5.2 (up 16.1%).

On the other hand, the BSE IT index has moved up from 31,145.7 to 43,369.1, registering a gain of 39.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 177.5%), INFIBEAM AVENUES (up 123.6%) and PERSISTENT SYSTEMS (up 99.0%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,868.3 (up 0.2%).

The top gainers among the BSE Sensex today are Indusind Bank (up 1.9%) and Infosys (up 1.8%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 25,061.5 (up 0.2%). LTIMINDTREE and Wipro are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,996.6 to 81,868.3, registering a gain of 16,871.7 points (up 26.0%).

3I Infotech Financial Update...

3I Infotech net profit grew 45.3% YoY to Rs -85 million for the quarter ended June 2024, compared to a loss of Rs 156 million a year ago. Net sales declined 7.5% to Rs 1,798 million during the period as against Rs 1,944 million in April-June 2023.

For the year ended March 2023, 3I Infotech reported 102.4% increase in net profit to Rs 14 million compared to net loss of Rs 575 million during FY22. Revenue of the company grew 7.7% to Rs 7,291 million during FY23.

The current Price to earnings ratio of 3I Infotech, based on rolling 12 month earnings, stands at -2.2.

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