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Birlasoft Plunges 8%; BSE IT Index Down 4.5%
Mon, 5 Aug 11:27

Birlasoft Plunges 8%; BSE IT Index Down 4.5%Image source: KanawatTH/www.istockphoto.com

Birlasoft share price has plunged 8% and is presently trading at Rs 557.7.

Meanwhile, the BSE IT index is at 38,800.8 (down 4.5%).

Among the top losers in the BSE IT index today are Firstsource Solutions (down 7.4%) and Oracle Financial Services (down 7.0%).

Over the last one year, Birlasoft has moved up from Rs 432.2 to Rs 557.7, registering a gain of Rs 125.6 (up 29.1%).

On the other hand, the BSE IT index has moved up from 30,586.1 to 38,800.8, registering a gain of 26.9% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 149.4%), INFIBEAM AVENUES (up 110.7%) and Firstsource Solutions (up 87.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 78,523.1 (down 3.0%).

The top losers among the BSE Sensex today are Tata Motors (down 6.4%) and Tata Steel (down 5.1%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,914.3 (down 3.3%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,523.1, registering a gain of 12,063.8 points (up 18.2%).

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 24.2.

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