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NIIT Gains 4%; BSE IT Index Up 0.4%
Thu, 11 Jul 10:15

NIIT Gains 4%; BSE IT Index Up 0.4%Image source: phive2015/www.istockphoto.com

NIIT share price has zoomed 4% and is presently trading at Rs 118.3.

Meanwhile, the BSE IT index is at 38,254.1 (up 0.4%).

Among the top gainers in the BSE IT index today are Mastek (up 1.8%) and INDIAMART INTERMESH (up 1.4%).

Tata Elxsi (down 1.7%) and Coforge (down 1.0%) are among the top losers today.

Over the last one year, NIIT has moved up from Rs 81.8 to Rs 118.3, registering a gain of Rs 36.5 (up 44.7%).

On the other hand, the BSE IT index has moved up from 29,484.7 to 38,254.1, registering a gain of 29.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 175.0%), Birlasoft (up 101.7%) and INFIBEAM AVENUES (up 95.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,987.4 (up 0.1%).

The top gainers among the BSE Sensex today are Tata Motors (up 1.2%) and Tata Steel (up 1.1%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,286.1 (down 0.2%). Nestle and Sun Pharma are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,344.2 to 79,987.4, registering a gain of 14,643.2 points (up 22.4%).

NIIT Financial Update...

NIIT net profit grew 218.5% YoY to Rs 115 million for the quarter ended March 2024, compared to a loss of Rs 97 million a year ago. Net sales rose 23.8% to Rs 743 million during the period as against Rs 600 million in January-March 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 40.1.

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