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Mphasis Gains 7%; BSE IT Index Up 2.7%
Fri, 16 Aug 15:42

Mphasis Gains 7%; BSE IT Index Up 2.7%Image source: Chunumunu/www.istockphoto.com

Mphasis share price has zoomed 7% and is presently trading at Rs 2,912.0.

Meanwhile, the BSE IT index is at 41,549.1 (up 2.7%).

Among the top gainers in the BSE IT index today are ZENSAR TECHNOLOGIES (up 7.5%) and Birlasoft (up 6.3%).

Tata Elxsi (down 0.9%) is among the top losers today.

Over the last one year, Mphasis has moved up from Rs 2,367.0 to Rs 2,912.0, registering a gain of Rs 545.0 (up 23.0%).

On the other hand, the BSE IT index has moved up from 31,218.6 to 41,549.1, registering a gain of 33.1% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 174.3%), INFIBEAM AVENUES (up 122.1%) and Firstsource Solutions (up 109.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,436.8 (up 1.7%).

The top gainers among the BSE Sensex today are Tech Mahindra (up 3.9%) and M&M (up 3.4%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,539.2 (up 1.6%). Wipro and Tech Mahindra are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,401.9 to 80,436.8, registering a gain of 15,034.9 points (up 23.0%).

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 35.2.

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