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NIIT Gains 15%; BSE IT Index Up 0.2%
Tue, 27 Aug 9:24

NIIT Gains 15%; BSE IT Index Up 0.2%Image source: Ivcandy/www.istockphoto.com

NIIT share price has zoomed 15% and is presently trading at Rs 173.5.

Meanwhile, the BSE IT index is at 42,530.5 (up 0.2%).

Among the top gainers in the BSE IT index today are KPIT TECHNOLOGIES (up 2.5%) and Tata Elxsi (up 1.0%).

Birlasoft (down 1.0%) and Eclerx Services (down 0.7%) are among the top losers today.

Over the last one year, NIIT has moved up from Rs 80.1 to Rs 173.5, registering a gain of Rs 93.4 (up 116.7%).

On the other hand, the BSE IT index has moved up from 31,231.8 to 42,530.5, registering a gain of 36.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 177.6%), INFIBEAM AVENUES (up 119.4%) and PERSISTENT SYSTEMS (up 100.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,763.7 (up 0.1%).

The top gainers among the BSE Sensex today are Ultratech Cement (up 0.9%) and HCl Tech. (up 0.8%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 25,021.5 . HCl Tech. and Divis Laboratories are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,433.3 to 81,763.7, registering a gain of 16,330.4 points (up 25.0%).

NIIT Financial Update...

NIIT net profit grew 221.7% YoY to Rs 83 million for the quarter ended June 2024, compared to a profit of Rs 26 million a year ago. Net sales rose 31.9% to Rs 825 million during the period as against Rs 625 million in April-June 2023.

For the year ended March 2023, NIIT reported 64.9% decrease in net profit to Rs 111 million compared to net profit of Rs 317 million during FY22. Revenue of the company grew 36.1% to Rs 3,415 million during FY23.

The current Price to earnings ratio of NIIT, based on rolling 12 month earnings, stands at 51.5.

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