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NIIT Gains 8%; BSE IT Index Down 0.6%
Fri, 23 Aug 11:9

NIIT Gains 8%; BSE IT Index Down 0.6%Image source: Ivcandy/www.istockphoto.com

NIIT share price has zoomed 8% and is presently trading at Rs 129.0.

Meanwhile, the BSE IT index is at 41,945.8 (down 0.6%).

Among the top gainers in the BSE IT index today are Mastek (up 2.0%) and ROUTE MOBILE (up 1.1%).

Firstsource Solutions (down 2.6%) and Mphasis (down 1.7%) are among the top losers today.

Over the last one year, NIIT has moved up from Rs 80.0 to Rs 129.0, registering a gain of Rs 48.9 (up 61.1%).

On the other hand, the BSE IT index has moved up from 31,180.8 to 41,945.8, registering a gain of 34.5% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 175.3%), INFIBEAM AVENUES (up 129.8%) and Firstsource Solutions (up 99.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,119.6 (up 0.1%).

The top gainers among the BSE Sensex today are Tata Motors (up 1.7%) and Sun Pharma (up 0.9%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,842.6 (up 0.1%). Bajaj Auto and Tata Motors are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,216.1 to 81,119.6, registering a gain of 15,903.5 points (up 24.4%).

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 38.3.

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