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AVANCE TECHNOLOGIES Plunges 5%; BSE IT Index Down 0.2%
Mon, 8 Jul 12:24

AVANCE TECHNOLOGIES Plunges 5%; BSE IT Index Down 0.2%Image source: StarLineArts/www.istockphoto.com

AVANCE TECHNOLOGIES share price has plunged 5% and is presently trading at Rs 1.0.

Meanwhile, the BSE IT index is at 38,407.4 (down 0.2%).

Among the top losers in the BSE IT index today are PERSISTENT SYSTEMS (down 3.1%) and Sonata Software (down 2.6%).

Firstsource Solutions (up 4.7%) and ROUTE MOBILE (up 1.7%) are among the top gainers today.

Over the last one year, AVANCE TECHNOLOGIES has moved up from Rs 0.5 to Rs 1.0, registering a gain of Rs 0.4 (up 89.2%).

On the other hand, the BSE IT index has moved up from 29,996.1 to 38,407.4, registering a gain of 28.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 170.1%), Birlasoft (up 99.7%) and Firstsource Solutions (up 91.1%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,816.5 (down 0.2%).

The top losers among the BSE Sensex today are Titan (down 3.8%) and MUNDRA PORT & SEZ (down 1.9%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,269.2 (down 0.2%). Titan and Divis Laboratories are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,479.1 to 79,816.5, registering a gain of 14,337.4 points (up 21.9%).

AVANCE TECHNOLOGIES Financial Update...

AVANCE TECHNOLOGIES net profit grew 3225.4% YoY to Rs 21 million for the quarter ended March 2024, compared to a loss of Rs 1 million a year ago. Net sales rose 17976.8% to Rs 1,057 million during the period as against Rs 6 million in January-March 2023.

For the year ended March 2023, AVANCE TECHNOLOGIES reported 165.9% increase in net profit to Rs 4 million compared to net loss of Rs 6 million during FY22. Revenue of the company grew 165.1% to Rs 305 million during FY23.

The current Price to earnings ratio of AVANCE TECHNOLOGIES, based on rolling 12 month earnings, stands at 38.6.


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