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Oracle Financial Services Plunges 4%; BSE IT Index Down 2.7%
Thu, 31 Oct 12:18

Oracle Financial Services Plunges 4%; BSE IT Index Down 2.7%Image source: ThinkNeo/www.istockphoto.com

Oracle Financial Services share price has plunged 4% and is presently trading at Rs 10,851.9.

Meanwhile, the BSE IT index is at 40,364.5 (down 2.7%).

Among the top losers in the BSE IT index today are PERSISTENT SYSTEMS (down 5.4%) and Tech Mahindra (down 4.8%).

Firstsource Solutions (up 1.5%) and Mastek (up 1.3%) are among the top gainers today.

Over the last one year, Oracle Financial Services has moved up from Rs 3,886.5 to Rs 10,851.9, registering a gain of Rs 6,965.4 (up 179.2%).

On the other hand, the BSE IT index has moved up from 31,119.8 to 40,364.5, 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 179.2%), Firstsource Solutions (up 119.9%) and PERSISTENT SYSTEMS (up 75.1%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,528.7 (down 0.5%).

The top losers among the BSE Sensex today are Tech Mahindra (down 4.8%) and HCl Tech. (down 3.1%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,236.8 (down 0.4%). Tech Mahindra and HCl Tech. are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,112.7 to 79,528.7, registering a gain of 15,416.0 points (up 24.0%).

Oracle Financial Services Financial Update...

Oracle Financial Services net profit grew 38.4% YoY to Rs 5,777 million for the quarter ended September 2024, compared to a profit of Rs 4,174 million a year ago. Net sales rose 15.9% to Rs 16,739 million during the period as against Rs 14,445 million in July-September 2023.

For the year ended March 2024, Oracle Financial Services reported 22.9% increase in net profit to Rs 22,194 million compared to net profit of Rs 18,061 million during FY23. Revenue of the company grew 11.8% to Rs 63,730 million during FY24.

The current Price to earnings ratio of Oracle Financial Services, based on rolling 12 month earnings, stands at 37.7.


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