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NIIT Gains 8%; BSE IT Index Up 1.2%
Tue, 2 Jul 15:10

NIIT Gains 8%; BSE IT Index Up 1.2%Image source: Sefa Ozel/www.istockphoto.com

NIIT share price has zoomed 8% and is presently trading at Rs 112.8.

Meanwhile, the BSE IT index is at 38,067.9 (up 1.2%).

Among the top gainers in the BSE IT index today are Firstsource Solutions (up 6.1%) and Coforge (up 2.8%).

Mastek (down 1.5%) and Birlasoft (down 1.0%) are among the top losers today.

Over the last one year, NIIT has moved up from Rs 85.2 to Rs 112.8, registering a gain of Rs 27.7 (up 32.5%).

On the other hand, the BSE IT index has moved up from 29,192.0 to 38,067.9, registering a gain of 30.4% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 166.7%), Birlasoft (up 102.1%) and ZENSAR TECHNOLOGIES (up 98.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,448.3 .

The top losers among the BSE Sensex today are Bharti Airtel (down 2.3%) and Kotak Bank (down 2.1%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,124.8 (down 0.1%). Shriram Transport and Bharti Airtel are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,915.4 to 79,448.3, registering a gain of 15,532.9 points (up 24.3%).

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 38.2.

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