L&T TECHNOLOGY SERVICES share price has plunged 4% and is presently trading at Rs 5,457.9.
Meanwhile, the BSE IT index is at 42,742.4 (down 2.8%).
Among the top losers in the BSE IT index today are Oracle Financial Services (down 7.1%) and Mphasis (down 5.4%).
Over the last one year, L&T TECHNOLOGY SERVICES has moved up from Rs 4,659.3 to Rs 5,457.9, registering a gain of Rs 798.6 (up 17.1%).
On the other hand, the BSE IT index has moved up from 33,207.2 to 42,742.4, registering a gain of 28.7% during the last 12 months.
The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 168.0%), Firstsource Solutions (up 82.5%) and PERSISTENT SYSTEMS (up 77.2%).
Must See: These Segments are Witnessing Incredible Growth with Modi's Push
The BSE Sensex is at 83,172.9 (up 0.1%).
The top gainers among the BSE Sensex today are Bajaj Finance (up 3.7%) and Bajaj Finserv (up 2.3%). The most traded stocks in the BSE Sensex are SBI and Tata Steel.
In the meantime, NSE Nifty is at 25,386.7 (down 0.1%). TCS and HCl Tech. are among the top losers in NSE NIFTY.
Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 83,172.9, registering a gain of 15,576.1 points (up 23.0%).
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 44.2.
Equitymaster requests your view! Post a comment on "L&T TECHNOLOGY SERVICES Plunges 4%; BSE IT Index Down 2.8%". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!