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Infosys Plunges 3%; BSE IT Index Down 1.9%
Thu, 28 Nov 11:20

Infosys Plunges 3%; BSE IT Index Down 1.9%Image source: bluebay2014/www.istockphoto.com

Infosys share price has plunged 3% and is presently trading at Rs 1,869.0.

Meanwhile, the BSE IT index is at 42,815.4 (down 1.9%).

Among the top losers in the BSE IT index today are L&T TECHNOLOGY SERVICES (down 2.8%) and Tech Mahindra (down 2.5%).

TANLA SOLUTIONS (up 1.3%) and INTELLECT DESIGN (up 0.8%) are among the top gainers today.

Over the last one year, Infosys has moved up from Rs 1,443.1 to Rs 1,869.0, registering a gain of Rs 426.0 (up 29.5%).

On the other hand, the BSE IT index has moved up from 32,787.7 to 42,815.4, registering a gain of 30.6% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 188.5%), Firstsource Solutions (up 113.1%) and PERSISTENT SYSTEMS (up 84.1%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,561.5 (down 0.8%).

The top losers among the BSE Sensex today are Tech Mahindra (down 2.5%) and M&M (down 2.4%). The most traded stocks in the BSE Sensex are MUNDRA PORT & SEZ and Axis Bank.

In the meantime, NSE Nifty is at 24,087.9 (down 0.8%). Tech Mahindra and M&M are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,174.2 to 79,561.5, registering a gain of 13,387.3 points (up 20.2%).

Infosys Financial Update...

Infosys net profit grew 4.8% YoY to Rs 65,160 million for the quarter ended September 2024, compared to a profit of Rs 62,150 million a year ago. Net sales rose 5.1% to Rs 409,860 million during the period as against Rs 389,940 million in July-September 2023.

For the year ended March 2024, Infosys reported 8.9% increase in net profit to Rs 262,480 million compared to net profit of Rs 241,080 million during FY23. Revenue of the company grew 4.7% to Rs 1,536,700 million during FY24.

The current Price to earnings ratio of Infosys, based on rolling 12 month earnings, stands at 28.8.

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