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Infosys Plunges 4%; BSE IT Index Down 1.8%
Fri, 18 Oct 10:36

Infosys Plunges 4%; BSE IT Index Down 1.8%Image source: asbe/www.istockphoto.com

Infosys share price has plunged 4% and is presently trading at Rs 1,889.1.

Meanwhile, the BSE IT index is at 42,353.5 (down 1.8%).

Among the top losers in the BSE IT index today are LTIMINDTREE (down 5.1%) and TANLA SOLUTIONS (down 3.7%).

Wipro (up 3.6%) and Mastek (up 1.3%) are among the top gainers today.

Over the last one year, Infosys has moved up from Rs 1,434.5 to Rs 1,889.1, registering a gain of Rs 454.6 (up 31.7%).

On the other hand, the BSE IT index has moved up from 32,175.6 to 42,353.5, registering a gain of 31.6% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 178.8%), Firstsource Solutions (up 102.0%) and PERSISTENT SYSTEMS (up 88.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,780.7 (down 0.3%).

The top losers among the BSE Sensex today are Tech Mahindra (down 2.4%) and ITC (down 1.7%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,741.6 . ITC and Tech Mahindra are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 80,780.7, registering a gain of 14,613.8 points (up 22.1%).

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 29.1.

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