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SUBEX Plunges 4%; BSE IT Index Up 1.6%
Thu, 27 Jun 16:6

SUBEX Plunges 4%; BSE IT Index Up 1.6%Image source: Chunumunu/www.istockphoto.com

SUBEX share price has plunged 4% and is presently trading at Rs 29.4.

Meanwhile, the BSE IT index is at 36,904.7 (up 1.6%).

Among the top losers in the BSE IT index today are INTELLECT DESIGN (down 2.6%) and INFIBEAM AVENUES (down 2.1%).

ROUTE MOBILE (up 12.7%) and Oracle Financial Services (up 4.0%) are among the top gainers today.

Over the last one year, SUBEX has moved down from Rs 29.4 to Rs 29.4, registering a loss of Rs 0.0 (down 0.1%).

On the other hand, the BSE IT index has moved up from 28,891.5 to 36,904.7, registering a gain of 27.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 157.7%), Birlasoft (up 101.9%) and ZENSAR TECHNOLOGIES (up 94.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,245.0 (up 0.7%).

The top gainers among the BSE Sensex today are Ultratech Cement (up 5.3%) and NTPC (up 3.3%). The most traded stocks in the BSE Sensex are Tata Steel and Infosys.

In the meantime, NSE Nifty is at 24,036.1 (up 0.7%). Ultratech Cement and LTIMINDTREE are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 62,970.0 to 79,245.0, registering a gain of 16,275.0 points (up 25.8%).

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 2023, SUBEX reported 344.0% decrease in net profit to Rs -512 million compared to net profit of Rs 210 million during FY22. Revenue of the company fell 16.4% to Rs 2,787 million during FY23.

The current Price to earnings ratio of SUBEX, based on rolling 12 month earnings, stands at -8.6.

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