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Infosys Plunges 3%; BSE IT Index Down 3.1%
Wed, 18 Sep 13:57

Infosys Plunges 3%; BSE IT Index Down 3.1%Image source: DNY59/www.istockphoto.com

Infosys share price has plunged 3% and is presently trading at Rs 1,887.1.

Meanwhile, the BSE IT index is at 42,577.9 (down 3.1%).

Among the top losers in the BSE IT index today are Oracle Financial Services (down 7.1%) and Mphasis (down 5.5%).

Over the last one year, Infosys has moved up from Rs 1,491.1 to Rs 1,887.1, registering a gain of Rs 396.0 (up 26.6%).

On the other hand, the BSE IT index has moved up from 33,207.2 to 42,577.9, registering a gain of 28.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 168.1%), Firstsource Solutions (up 83.1%) and PERSISTENT SYSTEMS (up 76.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 82,947.4 (down 0.2%).

The top losers among the BSE Sensex today are TCS (down 3.4%) and HCl Tech. (down 3.4%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 25,367.4 (down 0.2%). 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 82,947.4, registering a gain of 15,350.6 points (up 22.7%).

Infosys Financial Update...

Infosys net profit grew 7.2% YoY to Rs 63,740 million for the quarter ended June 2024, compared to a profit of Rs 59,450 million a year ago. Net sales rose 3.6% to Rs 393,150 million during the period as against Rs 379,330 million in April-June 2023.

For the year ended March 2024, Infosys reported 8.9% increase in net profit to Rs 262,480 million compared to net profit of Rs 241,080 million during FY23. Revenue of the company grew 4.7% to Rs 1,536,700 million during FY24.

The current Price to earnings ratio of Infosys, based on rolling 12 month earnings, stands at 29.4.

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