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L&T TECHNOLOGY SERVICES Plunges 4%; BSE IT Index Down 2.7%
Thu, 31 Oct 12:18

L&T TECHNOLOGY SERVICES Plunges 4%; BSE IT Index Down 2.7%Image source: Kameleon007 /www.istockphoto.com

L&T TECHNOLOGY SERVICES share price has plunged 4% and is presently trading at Rs 4,935.0.

Meanwhile, the BSE IT index is at 40,367.3 (down 2.7%).

Among the top losers in the BSE IT index today are PERSISTENT SYSTEMS (down 5.3%) and Tech Mahindra (down 4.7%).

Firstsource Solutions (up 1.5%) and Mastek (up 1.3%) are among the top gainers today.

Over the last one year, L&T TECHNOLOGY SERVICES has moved up from Rs 4,177.7 to Rs 4,935.0, registering a gain of Rs 757.3 (up 18.1%).

On the other hand, the BSE IT index has moved up from 31,119.8 to 40,367.3, registering a gain of 29.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 179.6%), Firstsource Solutions (up 119.9%) and PERSISTENT SYSTEMS (up 75.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,517.5 (down 0.5%).

The top losers among the BSE Sensex today are Tech Mahindra (down 4.7%) and HCl Tech. (down 3.1%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,236.8 (down 0.4%). Tech Mahindra and HCl Tech. are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,112.7 to 79,517.5, registering a gain of 15,404.8 points (up 24.0%).

L&T TECHNOLOGY SERVICES Financial Update...

L&T TECHNOLOGY SERVICES net profit grew 1.3% YoY to Rs 3,200 million for the quarter ended September 2024, compared to a profit of Rs 3,159 million a year ago. Net sales rose 7.8% to Rs 25,729 million during the period as against Rs 23,865 million in July-September 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 39.8.


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