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L&T TECHNOLOGY SERVICES Gains 6%; BSE IT Index Up 2.7%
Fri, 16 Aug 15:42

L&T TECHNOLOGY SERVICES Gains 6%; BSE IT Index Up 2.7%Image source: Eoneren/www.istockphoto.com

L&T TECHNOLOGY SERVICES share price has zoomed 6% and is presently trading at Rs 5,186.2.

Meanwhile, the BSE IT index is at 41,549.1 (up 2.7%).

Among the top gainers in the BSE IT index today are ZENSAR TECHNOLOGIES (up 7.5%) and Mphasis (up 7.2%).

Tata Elxsi (down 0.9%) is among the top losers today.

Over the last one year, L&T TECHNOLOGY SERVICES has moved up from Rs 4,250.7 to Rs 5,186.2, registering a gain of Rs 935.5 (up 22.0%).

On the other hand, the BSE IT index has moved up from 31,218.6 to 41,549.1, registering a gain of 33.1% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 174.3%), INFIBEAM AVENUES (up 122.1%) and Firstsource Solutions (up 109.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 80,436.8 (up 1.7%).

The top gainers among the BSE Sensex today are Tech Mahindra (up 3.9%) and M&M (up 3.4%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,539.2 (up 1.6%). Wipro and Tech Mahindra are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,401.9 to 80,436.8, registering a gain of 15,034.9 points (up 23.0%).

L&T TECHNOLOGY SERVICES Financial Update...

L&T TECHNOLOGY SERVICES net profit grew 0.6% YoY to Rs 3,139 million for the quarter ended June 2024, compared to a profit of Rs 3,121 million a year ago. Net sales rose 7.0% to Rs 24,619 million during the period as against Rs 23,014 million in April-June 2023.

For the year ended March 2024, L&T TECHNOLOGY SERVICES reported 7.4% increase in net profit to Rs 13,063 million compared to net profit of Rs 12,164 million during FY23. Revenue of the company grew 9.4% to Rs 96,473 million during FY24.

The current Price to earnings ratio of L&T TECHNOLOGY SERVICES, based on rolling 12 month earnings, stands at 42.0.


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