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L&T TECHNOLOGY SERVICES Plunges 5%; BSE IT Index Down 3.9%
Mon, 5 Aug 12:29

L&T TECHNOLOGY SERVICES Plunges 5%; BSE IT Index Down 3.9%Image source: Kameleon007 /www.istockphoto.com

L&T TECHNOLOGY SERVICES share price has plunged 5% and is presently trading at Rs 4,818.7.

Meanwhile, the BSE IT index is at 39,025.8 (down 3.9%).

Among the top losers in the BSE IT index today are Firstsource Solutions (down 6.6%) and Birlasoft (down 6.5%).

Over the last one year, L&T TECHNOLOGY SERVICES has moved up from Rs 4,167.5 to Rs 4,818.7, registering a gain of Rs 651.2 (up 15.6%).

On the other hand, the BSE IT index has moved up from 30,586.1 to 39,025.8, registering a gain of 27.6% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 156.2%), INFIBEAM AVENUES (up 112.1%) and Firstsource Solutions (up 88.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 78,666.8 (down 2.9%).

The top losers among the BSE Sensex today are Tata Motors (down 5.3%) and MUNDRA PORT & SEZ (down 5.0%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,022.6 (down 2.8%). ONGC and Tata Motors are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,666.8, registering a gain of 12,207.5 points (up 18.4%).

L&T TECHNOLOGY SERVICES Financial Update...

L&T TECHNOLOGY SERVICES net profit grew 0.6% YoY to Rs 3,139 million for the quarter ended June 2024, compared to a profit of Rs 3,121 million a year ago. Net sales rose 7.0% to Rs 24,619 million during the period as against Rs 23,014 million in April-June 2023.

For the year ended March 2024, L&T TECHNOLOGY SERVICES reported 7.4% increase in net profit to Rs 13,063 million compared to net profit of Rs 12,164 million during FY23. Revenue of the company grew 9.4% to Rs 96,473 million during FY24.

The current Price to earnings ratio of L&T TECHNOLOGY SERVICES, based on rolling 12 month earnings, stands at 39.0.


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