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Birlasoft Plunges 3%; BSE IT Index Down 1.2%
Fri, 2 Aug 10:42

Birlasoft Plunges 3%; BSE IT Index Down 1.2%Image source: KanawatTH/www.istockphoto.com

Birlasoft share price has plunged 3% and is presently trading at Rs 621.3.

Meanwhile, the BSE IT index is at 40,995.2 (down 1.2%).

Among the top losers in the BSE IT index today are Coforge (down 2.4%) and PERSISTENT SYSTEMS (down 2.1%).

KPIT TECHNOLOGIES (up 0.8%) is among the top gainers today.

Over the last one year, Birlasoft has moved up from Rs 427.2 to Rs 621.3, registering a gain of Rs 194.1 (up 45.4%).

On the other hand, the BSE IT index has moved up from 30,276.6 to 40,995.2, registering a gain of 35.4% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 176.2%), Firstsource Solutions (up 106.6%) and INFIBEAM AVENUES (up 100.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,090.3 (down 0.9%).

The top losers among the BSE Sensex today are Tata Motors (down 3.8%) and Maruti Suzuki (down 3.7%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,803.7 (down 0.8%). Tata Motors and Maruti Suzuki are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,527.7 to 81,090.3, registering a gain of 14,562.6 points (up 21.9%).

Birlasoft Financial Update...

Birlasoft net profit grew 9.2% YoY to Rs 1,502 million for the quarter ended June 2024, compared to a profit of Rs 1,375 million a year ago. Net sales rose 5.1% to Rs 13,274 million during the period as against Rs 12,628 million in April-June 2023.

For the year ended March 2024, Birlasoft reported 88.1% increase in net profit to Rs 6,238 million compared to net profit of Rs 3,316 million during FY23. Revenue of the company grew 10.1% to Rs 52,781 million during FY24.

The current Price to earnings ratio of Birlasoft, based on rolling 12 month earnings, stands at 27.0.

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