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Markets will remain closed on 20th November, 2024 on account of Assembly Elections in Maharashtra.

SUBEX Plunges 4%; BSE IT Index Up 0.3%
Tue, 12 Nov 14:28

SUBEX Plunges 4%; BSE IT Index Up 0.3%Image source: KanawatTH/www.istockphoto.com

SUBEX share price has plunged 4% and is presently trading at Rs 24.1.

Meanwhile, the BSE IT index is at 42,529.8 (up 0.3%).

Among the top losers in the BSE IT index today are INDIAMART INTERMESH (down 2.0%) and ZENSAR TECHNOLOGIES (down 1.9%).

L&T TECHNOLOGY SERVICES (up 3.3%) and Mastek (up 3.0%) are among the top gainers today.

Over the last one year, SUBEX has moved down from Rs 31.2 to Rs 24.1, registering a loss of Rs 7.0 (down 22.6%).

On the other hand, the BSE IT index has moved up from 31,561.2 to 42,529.8, registering a gain of 34.8% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 191.2%), Firstsource Solutions (up 126.7%) and PERSISTENT SYSTEMS (up 82.4%).

For Investors: Our Big Prediction

What About the Benchmark Indices?

The BSE Sensex is at 78,902.6 (down 0.7%).

The top losers among the BSE Sensex today are HDFC Bank (down 2.6%) and NTPC (down 2.4%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 23,958.9 (down 0.8%). HDFC Bank and NTPC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,975.6 to 78,902.6, registering a gain of 13,927.0 points (up 21.4%).

SUBEX Financial Update...

SUBEX net profit grew 105.6% YoY to Rs 6 million for the quarter ended September 2024, compared to a loss of Rs 111 million a year ago. Net sales declined 3.5% to Rs 742 million during the period as against Rs 768 million in July-September 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 -7.9.

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