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Mphasis Plunges 4%; BSE IT Index Down 1.5%
Wed, 18 Sep 9:23

Mphasis Plunges 4%; BSE IT Index Down 1.5%Image source: StarLineArts/www.istockphoto.com

Mphasis share price has plunged 4% and is presently trading at Rs 3,053.9.

Meanwhile, the BSE IT index is at 43,314.2 (down 1.5%).

Among the top losers in the BSE IT index today are Oracle Financial Services (down 2.1%) and LTIMINDTREE (down 2.0%).

INTELLECT DESIGN (up 0.4%) and Eclerx Services (up 0.2%) are among the top gainers today.

Over the last one year, Mphasis has moved up from Rs 2,484.8 to Rs 3,053.9, registering a gain of Rs 569.1 (up 22.9%).

On the other hand, the BSE IT index has moved up from 33,207.2 to 43,314.2, registering a gain of 30.4% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 182.5%), Firstsource Solutions (up 84.5%) and PERSISTENT SYSTEMS (up 80.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 82,984.3 (down 0.1%).

The top losers among the BSE Sensex today are Tech Mahindra (down 1.9%) and Infosys (down 1.6%). The most traded stocks in the BSE Sensex are Tata Motors and NTPC.

In the meantime, NSE Nifty is at 25,394.2 (down 0.1%). Wipro and Tech Mahindra are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 82,984.3, registering a gain of 15,387.5 points (up 22.8%).

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 37.0.

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