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Mphasis Plunges 6%; BSE IT Index Down 4.5%
Mon, 5 Aug 11:27

Mphasis Plunges 6%; BSE IT Index Down 4.5%Image source: Kameleon007 /www.istockphoto.com

Mphasis share price has plunged 6% and is presently trading at Rs 2,604.8.

Meanwhile, the BSE IT index is at 38,787.9 (down 4.5%).

Among the top losers in the BSE IT index today are Birlasoft (down 8.2%) and Firstsource Solutions (down 7.8%).

Over the last one year, Mphasis has moved up from Rs 2,292.8 to Rs 2,604.8, registering a gain of Rs 312.0 (up 13.6%).

On the other hand, the BSE IT index has moved up from 30,586.1 to 38,787.9, registering a gain of 26.8% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 149.9%), INFIBEAM AVENUES (up 110.7%) and Firstsource Solutions (up 86.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 78,477.9 (down 3.1%).

The top losers among the BSE Sensex today are Tata Motors (down 6.6%) and Tata Steel (down 5.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,914.3 (down 3.3%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,477.9, registering a gain of 12,018.6 points (up 18.1%).

Mphasis Financial Update...

Mphasis net profit grew 2.1% YoY to Rs 4,045 million for the quarter ended June 2024, compared to a profit of Rs 3,961 million a year ago. Net sales rose 5.2% to Rs 34,225 million during the period as against Rs 32,520 million in April-June 2023.

For the year ended March 2024, Mphasis reported 5.1% decrease in net profit to Rs 15,548 million compared to net profit of Rs 16,379 million during FY23. Revenue of the company fell 3.8% to Rs 132,785 million during FY24.

The current Price to earnings ratio of Mphasis, based on rolling 12 month earnings, stands at 31.5.

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