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CAMBRIDGE TECH Plunges 5%; BSE IT Index Up 1.4%
Thu, 18 Jul 13:26

CAMBRIDGE TECH Plunges 5%; BSE IT Index Up 1.4%Image source: Chunumunu/www.istockphoto.com

CAMBRIDGE TECH share price has plunged 5% and is presently trading at Rs 130.4.

Meanwhile, the BSE IT index is at 40,539.7 (up 1.4%).

Among the top losers in the BSE IT index today are L&T TECHNOLOGY SERVICES (down 2.1%) and Firstsource Solutions (down 1.8%).

Birlasoft (up 3.3%) and TCS (up 2.8%) are among the top gainers today.

Over the last one year, CAMBRIDGE TECH has moved up from Rs 66.2 to Rs 130.4, registering a gain of Rs 64.2 (up 97.0%).

On the other hand, the BSE IT index has moved up from 31,378.2 to 40,539.7, registering a gain of 29.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 177.2%), PERSISTENT SYSTEMS (up 96.5%) and Birlasoft (up 95.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,070.7 (up 0.4%).

The top gainers among the BSE Sensex today are TCS (up 2.8%) and Bajaj Finserv (up 1.8%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,713.5 (up 0.4%). TCS and LTIMINDTREE are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,589.9 to 81,070.7, registering a gain of 14,480.8 points (up 21.7%).

CAMBRIDGE TECH Financial Update...

CAMBRIDGE TECH net profit grew 1276.4% YoY to Rs 45 million for the quarter ended March 2024, compared to a loss of Rs 4 million a year ago. Net sales declined 7.4% to Rs 571 million during the period as against Rs 616 million in January-March 2023.

For the year ended March 2023, CAMBRIDGE TECH reported 16.6% decrease in net profit to Rs 82 million compared to net profit of Rs 98 million during FY22. Revenue of the company grew 62.1% to Rs 1,820 million during FY23.

The current Price to earnings ratio of CAMBRIDGE TECH, based on rolling 12 month earnings, stands at 45.9.

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