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Mastek Gains 3%; BSE IT Index Up 0.9%
Mon, 14 Oct 13:48

Mastek Gains 3%; BSE IT Index Up 0.9%Image source: peterschreiber.media/www.istockphoto.com

Mastek share price has zoomed 3% and is presently trading at Rs 2,797.0.

Meanwhile, the BSE IT index is at 43,226.1 (up 0.9%).

Among the top gainers in the BSE IT index today are Wipro (up 3.7%) and Tech Mahindra (up 2.7%).

INTELLECT DESIGN (down 1.8%) and INFIBEAM AVENUES (down 1.4%) are among the top losers today.

Over the last one year, Mastek has moved up from Rs 2,399.7 to Rs 2,797.0, registering a gain of Rs 397.4 (up 16.6%).

On the other hand, the BSE IT index has moved up from 32,901.6 to 43,226.1, registering a gain of 31.4% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 179.2%), Firstsource Solutions (up 94.6%) and PERSISTENT SYSTEMS (up 91.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,953.8 (up 0.7%).

The top gainers among the BSE Sensex today are Tech Mahindra (up 2.7%) and L&T (up 2.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,112.6 (up 0.6%). Wipro and L&T are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,079.4 to 81,953.8, registering a gain of 15,874.4 points (up 24.0%).

Mastek Financial Update...

Mastek net profit fell 2.8% YoY to Rs 715 million for the quarter ended June 2024, compared to a profit of Rs 735 million a year ago. Net sales rose 12.1% to Rs 8,129 million during the period as against Rs 7,253 million in April-June 2023.

For the year ended March 2024, Mastek reported 0.2% increase in net profit to Rs 3,110 million compared to net profit of Rs 3,103 million during FY23. Revenue of the company grew 19.2% to Rs 30,548 million during FY24.

The current Price to earnings ratio of Mastek, based on rolling 12 month earnings, stands at 28.0.

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