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SAKSOFT Plunges 11%; BSE IT Index Up 1.2%
Thu, 19 Sep 9:20

SAKSOFT Plunges 11%; BSE IT Index Up 1.2%Image source: KanawatTH/www.istockphoto.com

SAKSOFT share price has plunged 11% and is presently trading at Rs 318.2.

Meanwhile, the BSE IT index is at 43,173.1 (up 1.2%).

Among the top losers in the BSE IT index today are INFIBEAM AVENUES (down 0.9%) and INTELLECT DESIGN (down 0.5%).

Oracle Financial Services (up 4.5%) and Coforge (up 2.0%) are among the top gainers today.

Over the last one year, SAKSOFT has moved down from Rs 334.2 to Rs 318.2, registering a loss of Rs 16.0 (down 4.8%).

On the other hand, the BSE IT index has moved up from 33,207.2 to 43,173.1, registering a gain of 30.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 176.4%), Firstsource Solutions (up 83.4%) and PERSISTENT SYSTEMS (up 80.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 83,359.2 (up 0.5%).

The top gainers among the BSE Sensex today are NTPC (up 2.8%) and HCl Tech. (up 1.7%). The most traded stocks in the BSE Sensex are NTPC and Tata Steel.

In the meantime, NSE Nifty is at 25,487.1 (up 0.4%). NTPC and LTIMINDTREE are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 83,359.2, registering a gain of 15,762.3 points (up 23.3%).

SAKSOFT Financial Update...

SAKSOFT net profit grew 1.7% YoY to Rs 256 million for the quarter ended June 2024, compared to a profit of Rs 252 million a year ago. Net sales rose 9.6% to Rs 2,010 million during the period as against Rs 1,835 million in April-June 2023.

For the year ended March 2024, SAKSOFT reported 17.3% increase in net profit to Rs 962 million compared to net profit of Rs 820 million during FY23. Revenue of the company grew 14.4% to Rs 7,616 million during FY24.

The current Price to earnings ratio of SAKSOFT, based on rolling 12 month earnings, stands at 34.9.

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