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LTIMINDTREE Plunges 6%; BSE IT Index Down 2.0%
Fri, 18 Oct 10:35

LTIMINDTREE Plunges 6%; BSE IT Index Down 2.0%Image source: ThinkNeo/www.istockphoto.com

LTIMINDTREE share price has plunged 6% and is presently trading at Rs 6,049.1.

Meanwhile, the BSE IT index is at 42,256.6 (down 2.0%).

Among the top losers in the BSE IT index today are Infosys (down 4.3%) and TANLA SOLUTIONS (down 3.5%).

Wipro (up 3.4%) and Mastek (up 1.0%) are among the top gainers today.

Over the last one year, LTIMINDTREE has moved up from Rs 5,161.7 to Rs 6,049.1, registering a gain of Rs 887.4 (up 17.2%).

On the other hand, the BSE IT index has moved up from 32,175.6 to 42,256.6, registering a gain of 31.3% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 177.8%), Firstsource Solutions (up 101.7%) and PERSISTENT SYSTEMS (up 88.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,735.3 (down 0.3%).

The top losers among the BSE Sensex today are Infosys (down 4.3%) and Tech Mahindra (down 2.9%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,694.4 (down 0.2%). Infosys and Tech Mahindra are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 80,735.3, registering a gain of 14,568.4 points (up 22.0%).

LTIMINDTREE Financial Update...

LTIMINDTREE net profit grew 7.7% YoY to Rs 12,516 million for the quarter ended September 2024, compared to a profit of Rs 11,623 million a year ago. Net sales rose 5.9% to Rs 94,329 million during the period as against Rs 89,054 million in July-September 2023.

For the year ended March 2024, LTIMINDTREE reported 4.0% increase in net profit to Rs 45,846 million compared to net profit of Rs 44,103 million during FY23. Revenue of the company grew 7.0% to Rs 355,170 million during FY24.

The current Price to earnings ratio of LTIMINDTREE, based on rolling 12 month earnings, stands at 38.5.

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