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Mphasis Plunges 3%; BSE IT Index Up 0.6%
Wed, 24 Jul 11:22

Mphasis Plunges 3%; BSE IT Index Up 0.6%Image source: ThinkNeo/www.istockphoto.com

Mphasis share price has plunged 3% and is presently trading at Rs 2,849.0.

Meanwhile, the BSE IT index is at 41,163.5 (up 0.6%).

Among the top losers in the BSE IT index today are Tata Elxsi (down 0.5%) and Birlasoft (down 0.4%).

Coforge (up 3.8%) and INFIBEAM AVENUES (up 3.5%) are among the top gainers today.

Over the last one year, Mphasis has moved up from Rs 2,272.6 to Rs 2,849.0, registering a gain of Rs 576.5 (up 25.4%).

On the other hand, the BSE IT index has moved up from 30,124.1 to 41,163.5, registering a gain of 36.6% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 192.6%), PERSISTENT SYSTEMS (up 100.8%) and INFIBEAM AVENUES (up 96.6%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,213.1 (down 0.3%).

The top losers among the BSE Sensex today are Bajaj Finance (down 2.5%) and Bajaj Finserv (down 1.9%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,441.4 (down 0.2%). Tata Consumer Products and Bajaj Finance are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,384.8 to 80,213.1, registering a gain of 13,828.3 points (up 20.8%).

Mphasis Financial Update...

Mphasis net profit fell 3.0% YoY to Rs 3,932 million for the quarter ended March 2024, compared to a profit of Rs 4,053 million a year ago. Net sales rose 1.5% to Rs 34,121 million during the period as against Rs 33,612 million in January-March 2023.

For the year ended March 2024, Mphasis reported 5.1% decrease in net profit to Rs 15,548 million compared to net profit of Rs 16,379 million during FY23. Revenue of the company fell 3.8% to Rs 132,785 million during FY24.

The current Price to earnings ratio of Mphasis, based on rolling 12 month earnings, stands at 34.6.

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