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Birlasoft Plunges 3%; BSE IT Index Down 0.5%
Thu, 1 Aug 12:18

Birlasoft Plunges 3%; BSE IT Index Down 0.5%Image source: KanawatTH/www.istockphoto.com

Birlasoft share price has plunged 3% and is presently trading at Rs 652.2.

Meanwhile, the BSE IT index is at 41,510.4 (down 0.5%).

Among the top losers in the BSE IT index today are Sonata Software (down 7.5%) and INDIAMART INTERMESH (down 3.2%).

Firstsource Solutions (up 9.3%) and Eclerx Services (up 1.4%) are among the top gainers today.

Over the last one year, Birlasoft has moved up from Rs 427.2 to Rs 652.2, registering a gain of Rs 225.0 (up 52.7%).

On the other hand, the BSE IT index has moved up from 30,276.6 to 41,510.4, registering a gain of 37.1% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 183.5%), Firstsource Solutions (up 106.8%) and INFIBEAM AVENUES (up 103.0%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,784.2 (up 0.1%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 3.1%) and NTPC (up 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,990.6 (up 0.2%). Coal India and Power Grid Corp. are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,527.7 to 81,784.2, registering a gain of 15,256.5 points (up 22.9%).

Birlasoft Financial Update...

Birlasoft net profit grew 9.2% YoY to Rs 1,502 million for the quarter ended June 2024, compared to a profit of Rs 1,375 million a year ago. Net sales rose 5.1% to Rs 13,274 million during the period as against Rs 12,628 million in April-June 2023.

For the year ended March 2024, Birlasoft reported 88.1% increase in net profit to Rs 6,238 million compared to net profit of Rs 3,316 million during FY23. Revenue of the company grew 10.1% to Rs 52,781 million during FY24.

The current Price to earnings ratio of Birlasoft, based on rolling 12 month earnings, stands at 28.3.

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