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Mastek Gains 5%; BSE IT Index Up 1.4%
Thu, 4 Jul 12:42

Mastek Gains 5%; BSE IT Index Up 1.4%Image source: Ivcandy/www.istockphoto.com

Mastek share price has zoomed 5% and is presently trading at Rs 2,860.8.

Meanwhile, the BSE IT index is at 38,654.4 (up 1.4%).

Among the top gainers in the BSE IT index today are Firstsource Solutions (up 4.6%) and Sonata Software (up 3.8%).

Wipro (down 0.8%) and Tech Mahindra (down 0.8%) are among the top losers today.

Over the last one year, Mastek has moved up from Rs 1,928.7 to Rs 2,860.8, registering a gain of Rs 932.1 (up 48.3%).

On the other hand, the BSE IT index has moved up from 29,747.6 to 38,654.4, registering a gain of 29.9% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 175.3%), Birlasoft (up 103.9%) and PERSISTENT SYSTEMS (up 95.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,183.7 (up 0.2%).

The top gainers among the BSE Sensex today are HCl Tech. (up 2.6%) and ICICI Bank (up 2.0%). The most traded stocks in the BSE Sensex are HDFC Bank and Tata Motors.

In the meantime, NSE Nifty is at 24,346.7 (up 0.3%). HCl Tech. and ICICI Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 80,183.7, registering a gain of 14,978.7 points (up 23.0%).

Mastek Financial Update...

Mastek net profit grew 30.1% YoY to Rs 944 million for the quarter ended March 2024, compared to a profit of Rs 726 million a year ago. Net sales rose 9.9% to Rs 7,797 million during the period as against Rs 7,092 million in January-March 2023.

For the year ended March 2023, Mastek reported 6.9% decrease in net profit to Rs 3,103 million compared to net profit of Rs 3,334 million during FY22. Revenue of the company grew 17.4% to Rs 25,634 million during FY23.

The current Price to earnings ratio of Mastek, based on rolling 12 month earnings, stands at 28.4.

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