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NIIT Gains 6%; BSE IT Index Down 0.0%
Tue, 23 Jul 11:14

NIIT Gains 6%; BSE IT Index Down 0.0%Image source: Nikada/www.istockphoto.com

NIIT share price has zoomed 6% and is presently trading at Rs 109.1.

Meanwhile, the BSE IT index is at 40,579.9 .

Among the top gainers in the BSE IT index today are Coforge (up 1.6%) and Mastek (up 0.8%).

INTELLECT DESIGN (down 3.0%) and KPIT TECHNOLOGIES (down 1.8%) are among the top losers today.

Over the last one year, NIIT has moved up from Rs 80.6 to Rs 109.1, registering a gain of Rs 28.5 (up 35.3%).

On the other hand, the BSE IT index has moved up from 31,740.5 to 40,579.9, registering a gain of 27.8% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 172.8%), INFIBEAM AVENUES (up 86.5%) and PERSISTENT SYSTEMS (up 84.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,641.1 (up 0.2%).

The top gainers among the BSE Sensex today are MUNDRA PORT & SEZ (up 2.1%) and ITC (up 1.6%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,539.2 (up 0.1%). MUNDRA PORT & SEZ and ITC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,097.4 to 80,641.1, registering a gain of 13,543.6 points (up 20.2%).

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 37.0.

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