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63 Moons Tech Plunges 5%; BSE IT Index Down 0.0%
Wed, 11 Sep 14:31

63 Moons Tech Plunges 5%; BSE IT Index Down 0.0%Image source: Nikada/www.istockphoto.com

63 Moons Tech share price has plunged 5% and is presently trading at Rs 404.0.

Meanwhile, the BSE IT index is at 43,218.2 .

Among the top losers in the BSE IT index today are INFIBEAM AVENUES (down 5.2%) and ZENSAR TECHNOLOGIES (down 3.4%).

CYIENT (up 3.3%) and KPIT TECHNOLOGIES (up 1.7%) are among the top gainers today.

Over the last one year, 63 Moons Tech has moved up from Rs 319.0 to Rs 404.0, registering a gain of Rs 85.0 (up 26.6%).

On the other hand, the BSE IT index has moved up from 32,896.4 to 43,218.2, registering a gain of 31.4% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 159.9%), Firstsource Solutions (up 87.5%) and PERSISTENT SYSTEMS (up 79.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,606.7 (down 0.4%).

The top losers among the BSE Sensex today are Tata Motors (down 5.8%) and M&M (down 1.6%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 24,951.1 (down 0.4%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,127.1 to 81,606.7, registering a gain of 14,479.6 points (up 21.6%).

63 Moons Tech Financial Update...

63 Moons Tech net profit fell 129.5% YoY to Rs -115 million for the quarter ended June 2024, compared to a profit of Rs 390 million a year ago. Net sales declined 66.3% to Rs 387 million during the period as against Rs 1,151 million in April-June 2023.

For the year ended March 2023, 63 Moons Tech reported 70.7% increase in net profit to Rs -218 million compared to net loss of Rs 744 million during FY22. Revenue of the company grew 81.0% to Rs 2,901 million during FY23.

The current Price to earnings ratio of 63 Moons Tech, based on rolling 12 month earnings, stands at 11.5.

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