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L&T TECHNOLOGY SERVICES Plunges 4%; BSE IT Index Down 1.4%
Thu, 3 Oct 12:16

L&T TECHNOLOGY SERVICES Plunges 4%; BSE IT Index Down 1.4%Image source: phive2015/www.istockphoto.com

L&T TECHNOLOGY SERVICES share price has plunged 4% and is presently trading at Rs 5,119.0.

Meanwhile, the BSE IT index is at 42,199.1 (down 1.4%).

Among the top losers in the BSE IT index today are PERSISTENT SYSTEMS (down 4.6%) and INTELLECT DESIGN (down 2.8%).

INFIBEAM AVENUES (up 6.9%) and KPIT TECHNOLOGIES (up 1.3%) are among the top gainers today.

Over the last one year, L&T TECHNOLOGY SERVICES has moved up from Rs 4,571.1 to Rs 5,119.0, registering a gain of Rs 547.9 (up 12.0%).

On the other hand, the BSE IT index has moved up from 31,998.7 to 42,199.1, registering a gain of 31.9% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 174.0%), Firstsource Solutions (up 88.8%) and PERSISTENT SYSTEMS (up 82.7%).

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What About the Benchmark Indices?

The BSE Sensex is at 83,017.8 (down 1.5%).

The top losers among the BSE Sensex today are Tata Motors (down 4.0%) and Asian Paints (down 3.5%). The most traded stocks in the BSE Sensex are HDFC Bank and Reliance Ind..

In the meantime, NSE Nifty is at 25,412.0 (down 1.5%). BPCL and Tata Motors are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 83,017.8, registering a gain of 17,505.7 points (up 26.7%).

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 41.4.


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