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NIIT Gains 5%; BSE IT Index Up 0.2%
Tue, 3 Sep 14:7

NIIT Gains 5%; BSE IT Index Up 0.2%Image source: DNY59/www.istockphoto.com

NIIT share price has zoomed 5% and is presently trading at Rs 174.9.

Meanwhile, the BSE IT index is at 43,752.5 (up 0.2%).

Among the top gainers in the BSE IT index today are Oracle Financial Services (up 4.5%) and PERSISTENT SYSTEMS (up 1.9%).

INTELLECT DESIGN (down 0.8%) and ROUTE MOBILE (down 0.4%) are among the top losers today.

Over the last one year, NIIT has moved up from Rs 80.1 to Rs 174.9, registering a gain of Rs 94.8 (up 118.4%).

On the other hand, the BSE IT index has moved up from 31,467.7 to 43,752.5, registering a gain of 39.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 182.9%), INFIBEAM AVENUES (up 110.7%) and PERSISTENT SYSTEMS (up 104.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 82,491.7 (down 0.1%).

The top losers among the BSE Sensex today are Bajaj Finance (down 2.8%) and Bajaj Finserv (down 1.3%). The most traded stocks in the BSE Sensex are Kotak Bank and Tata Steel.

In the meantime, NSE Nifty is at 25,264.1 (down 0.1%). Bajaj Finance and IOC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,087.3 to 82,491.7, registering a gain of 17,404.4 points (up 26.7%).

NIIT Financial Update...

NIIT net profit grew 221.7% YoY to Rs 83 million for the quarter ended June 2024, compared to a profit of Rs 26 million a year ago. Net sales rose 31.9% to Rs 825 million during the period as against Rs 625 million in April-June 2023.

For the year ended March 2023, NIIT reported 64.9% decrease in net profit to Rs 111 million compared to net profit of Rs 317 million during FY22. Revenue of the company grew 36.1% to Rs 3,415 million during FY23.

The current Price to earnings ratio of NIIT, based on rolling 12 month earnings, stands at 51.9.

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