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L&T TECHNOLOGY SERVICES Plunges 2%; BSE IT Index Up 0.4%
Thu, 18 Jul 9:28

L&T TECHNOLOGY SERVICES Plunges 2%; BSE IT Index Up 0.4%Image source: Nikada/www.istockphoto.com

L&T TECHNOLOGY SERVICES share price has plunged 2% and is presently trading at Rs 4,807.7.

Meanwhile, the BSE IT index is at 40,144.7 (up 0.4%).

Among the top losers in the BSE IT index today are Eclerx Services (down 0.9%) and TANLA SOLUTIONS (down 0.8%).

LTIMINDTREE (up 2.8%) and ZENSAR TECHNOLOGIES (up 2.1%) are among the top gainers today.

Over the last one year, L&T TECHNOLOGY SERVICES has moved up from Rs 4,099.3 to Rs 4,807.7, registering a gain of Rs 708.3 (up 17.3%).

On the other hand, the BSE IT index has moved up from 31,378.2 to 40,144.7, registering a gain of 27.9% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 180.4%), PERSISTENT SYSTEMS (up 94.9%) and INFIBEAM AVENUES (up 91.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,609.7 (down 0.1%).

The top losers among the BSE Sensex today are Asian Paints (down 2.5%) and Tata Steel (down 1.0%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,542.6 (down 0.3%). Bajaj Auto and Asian Paints are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,589.9 to 80,609.7, registering a gain of 14,019.8 points (up 21.1%).

L&T TECHNOLOGY SERVICES Financial Update...

L&T TECHNOLOGY SERVICES net profit fell 0.0% YoY to Rs 3,414 million for the quarter ended March 2024, compared to a profit of Rs 3,414 million a year ago. Net sales rose 7.0% to Rs 25,375 million during the period as against Rs 23,706 million in January-March 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 39.0.


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