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L&T TECHNOLOGY SERVICES Plunges 4%; BSE IT Index Down 2.8%
Wed, 18 Sep 13:9

L&T TECHNOLOGY SERVICES Plunges 4%; BSE IT Index Down 2.8%Image source: Sakorn BernardaSv/www.istockphoto.com

L&T TECHNOLOGY SERVICES share price has plunged 4% and is presently trading at Rs 5,457.9.

Meanwhile, the BSE IT index is at 42,742.4 (down 2.8%).

Among the top losers in the BSE IT index today are Oracle Financial Services (down 7.1%) and Mphasis (down 5.4%).

Over the last one year, L&T TECHNOLOGY SERVICES has moved up from Rs 4,659.3 to Rs 5,457.9, registering a gain of Rs 798.6 (up 17.1%).

On the other hand, the BSE IT index has moved up from 33,207.2 to 42,742.4, registering a gain of 28.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 168.0%), Firstsource Solutions (up 82.5%) and PERSISTENT SYSTEMS (up 77.2%).

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What About the Benchmark Indices?

The BSE Sensex is at 83,172.9 (up 0.1%).

The top gainers among the BSE Sensex today are Bajaj Finance (up 3.7%) and Bajaj Finserv (up 2.3%). The most traded stocks in the BSE Sensex are SBI and Tata Steel.

In the meantime, NSE Nifty is at 25,386.7 (down 0.1%). TCS and HCl Tech. are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 83,172.9, registering a gain of 15,576.1 points (up 23.0%).

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 44.2.


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