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L&T TECHNOLOGY SERVICES Gains 4%; BSE IT Index Up 1.9%
Wed, 28 Aug 13:16

L&T TECHNOLOGY SERVICES Gains 4%; BSE IT Index Up 1.9%Image source: DNY59/www.istockphoto.com

L&T TECHNOLOGY SERVICES share price has zoomed 4% and is presently trading at Rs 5,688.2.

Meanwhile, the BSE IT index is at 43,483.9 (up 1.9%).

Among the top gainers in the BSE IT index today are LTIMINDTREE (up 7.6%) and Wipro (up 3.6%).

Tata Elxsi (down 6.5%) and TANLA SOLUTIONS (down 0.5%) are among the top losers today.

Over the last one year, L&T TECHNOLOGY SERVICES has moved up from Rs 4,355.5 to Rs 5,688.2, registering a gain of Rs 1,332.7 (up 30.6%).

On the other hand, the BSE IT index has moved up from 31,145.7 to 43,483.9, registering a gain of 39.6% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 176.9%), INFIBEAM AVENUES (up 123.3%) and PERSISTENT SYSTEMS (up 98.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 81,957.9 (up 0.3%).

The top gainers among the BSE Sensex today are Indusind Bank (up 2.5%) and Infosys (up 2.5%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 25,101.8 (up 0.3%). LTIMINDTREE and Wipro are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,996.6 to 81,957.9, registering a gain of 16,961.3 points (up 26.1%).

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 46.0.


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