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SUBEX Plunges 4%; BSE IT Index Down 0.5%
Thu, 1 Aug 15:47

SUBEX Plunges 4%; BSE IT Index Down 0.5%Image source: ThinkNeo/www.istockphoto.com

SUBEX share price has plunged 4% and is presently trading at Rs 32.9.

Meanwhile, the BSE IT index is at 41,482.2 (down 0.5%).

Among the top losers in the BSE IT index today are Sonata Software (down 10.0%) and Birlasoft (down 4.6%).

Firstsource Solutions (up 9.7%) and Eclerx Services (up 2.0%) are among the top gainers today.

Over the last one year, SUBEX has moved up from Rs 32.4 to Rs 32.9, registering a gain of Rs 0.5 (up 1.4%).

On the other hand, the BSE IT index has moved up from 30,276.6 to 41,482.2, registering a gain of 37.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 180.9%), Firstsource Solutions (up 107.6%) and INFIBEAM AVENUES (up 103.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,867.6 (up 0.2%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 3.8%) and HDFC Bank (up 1.9%). The most traded stocks in the BSE Sensex are Tata Steel and Power Grid Corp..

In the meantime, NSE Nifty is at 25,006.0 (up 0.2%). Power Grid Corp. and Coal India are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,527.7 to 81,867.6, registering a gain of 15,339.9 points (up 23.1%).

SUBEX Financial Update...

SUBEX net profit fell 231.7% YoY to Rs -1,565 million for the quarter ended March 2024, compared to a loss of Rs 472 million a year ago. Net sales rose 77.3% to Rs 838 million during the period as against Rs 473 million in January-March 2023.

For the year ended March 2024, SUBEX reported 274.4% decrease in net profit to Rs -1,917 million compared to net loss of Rs 512 million during FY23. Revenue of the company grew 11.1% to Rs 3,097 million during FY24.

The current Price to earnings ratio of SUBEX, based on rolling 12 month earnings, stands at -9.6.

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