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CYIENT Plunges 6%; BSE IT Index Down 4.7%
Mon, 5 Aug 11:29

CYIENT Plunges 6%; BSE IT Index Down 4.7%Image source: KanawatTH/www.istockphoto.com

CYIENT share price has plunged 6% and is presently trading at Rs 1,656.0.

Meanwhile, the BSE IT index is at 38,739.9 (down 4.7%).

Among the top losers in the BSE IT index today are Firstsource Solutions (down 8.1%) and Birlasoft (down 7.8%).

Over the last one year, CYIENT has moved up from Rs 1,461.0 to Rs 1,656.0, registering a gain of Rs 195.1 (up 13.4%).

On the other hand, the BSE IT index has moved up from 30,586.1 to 38,739.9, registering a gain of 26.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 150.2%), INFIBEAM AVENUES (up 110.3%) and Firstsource Solutions (up 86.0%).

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What About the Benchmark Indices?

The BSE Sensex is at 78,390.2 (down 3.2%).

The top losers among the BSE Sensex today are Tata Motors (down 6.8%) and Tata Steel (down 5.6%). 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 78,390.2, registering a gain of 11,930.9 points (up 18.0%).

CYIENT Financial Update...

CYIENT net profit fell 12.7% YoY to Rs 1,476 million for the quarter ended June 2024, compared to a profit of Rs 1,691 million a year ago. Net sales declined 0.6% to Rs 16,757 million during the period as against Rs 16,865 million in April-June 2023.

For the year ended March 2024, CYIENT reported 36.6% increase in net profit to Rs 7,028 million compared to net profit of Rs 5,144 million during FY23. Revenue of the company grew 18.8% to Rs 71,472 million during FY24.

The current Price to earnings ratio of CYIENT, based on rolling 12 month earnings, stands at 27.0.

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