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Mphasis Plunges 4%; BSE IT Index Down 0.4%
Mon, 29 Jul 14:19

Mphasis Plunges 4%; BSE IT Index Down 0.4%Image source: bluebay2014/www.istockphoto.com

Mphasis share price has plunged 4% and is presently trading at Rs 2,922.0.

Meanwhile, the BSE IT index is at 41,667.5 (down 0.4%).

Among the top losers in the BSE IT index today are CYIENT (down 2.6%) and Tech Mahindra (down 1.1%).

Firstsource Solutions (up 3.4%) and Oracle Financial Services (up 2.6%) are among the top gainers today.

Over the last one year, Mphasis has moved up from Rs 2,268.3 to Rs 2,922.0, registering a gain of Rs 653.8 (up 28.8%).

On the other hand, the BSE IT index has moved up from 30,040.4 to 41,667.5, registering a gain of 38.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 195.8%), INFIBEAM AVENUES (up 109.5%) and PERSISTENT SYSTEMS (up 103.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,270.2 (down 0.1%).

The top losers among the BSE Sensex today are Titan (down 2.6%) and Bharti Airtel (down 2.1%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,798.1 (down 0.2%). Titan and Bharti Airtel are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,355.7 to 81,270.2, registering a gain of 14,914.4 points (up 22.5%).

Mphasis Financial Update...

Mphasis net profit grew 2.1% YoY to Rs 4,045 million for the quarter ended June 2024, compared to a profit of Rs 3,961 million a year ago. Net sales rose 5.2% to Rs 34,225 million during the period as against Rs 32,520 million in April-June 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 35.3.

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