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Allied Digital Plunges 6%; BSE IT Index Up 0.5%
Wed, 31 Jul 10:53

Allied Digital Plunges 6%; BSE IT Index Up 0.5%Image source: Ivcandy/www.istockphoto.com

Allied Digital share price has plunged 6% and is presently trading at Rs 219.6.

Meanwhile, the BSE IT index is at 41,910.1 (up 0.5%).

Among the top losers in the BSE IT index today are INDIAMART INTERMESH (down 5.9%) and ROUTE MOBILE (down 0.9%).

PERSISTENT SYSTEMS (up 3.4%) and KPIT TECHNOLOGIES (up 2.9%) are among the top gainers today.

Over the last one year, Allied Digital has moved up from Rs 146.7 to Rs 219.6, registering a gain of Rs 72.9 (up 49.7%).

On the other hand, the BSE IT index has moved up from 30,276.6 to 41,910.1, registering a gain of 38.4% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 187.0%), PERSISTENT SYSTEMS (up 108.4%) and INFIBEAM AVENUES (up 105.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,731.4 (up 0.3%).

The top gainers among the BSE Sensex today are Asian Paints (up 2.5%) and NTPC (up 1.9%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,937.8 (up 0.3%). Asian Paints and NTPC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,527.7 to 81,731.4, registering a gain of 15,203.7 points (up 22.9%).

Allied Digital Financial Update...

Allied Digital net profit grew 21.3% YoY to Rs 104 million for the quarter ended June 2024, compared to a profit of Rs 86 million a year ago. Net sales rose 6.0% to Rs 1,791 million during the period as against Rs 1,690 million in April-June 2023.

For the year ended March 2024, Allied Digital reported 14.7% decrease in net profit to Rs 458 million compared to net profit of Rs 537 million during FY23. Revenue of the company grew 4.1% to Rs 6,871 million during FY24.

The current Price to earnings ratio of Allied Digital, based on rolling 12 month earnings, stands at 25.5.

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