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SUBEX Gains 4%; BSE IT Index Up 0.9%
Tue, 1 Oct 10:23

SUBEX Gains 4%; BSE IT Index Up 0.9%Image source: DNY59/www.istockphoto.com

SUBEX share price has zoomed 4% and is presently trading at Rs 28.0.

Meanwhile, the BSE IT index is at 42,730.3 (up 0.9%).

Among the top gainers in the BSE IT index today are INFIBEAM AVENUES (up 5.1%) and Tech Mahindra (up 3.5%).

INTELLECT DESIGN (down 2.8%) and Oracle Financial Services (down 0.6%) are among the top losers today.

Over the last one year, SUBEX has moved down from Rs 32.9 to Rs 28.0, registering a loss of Rs 4.8 (down 14.6%).

On the other hand, the BSE IT index has moved up from 32,745.6 to 42,730.3, registering a gain of 30.5% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 173.7%), Firstsource Solutions (up 91.7%) and PERSISTENT SYSTEMS (up 87.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 84,391.1 (up 0.1%).

The top gainers among the BSE Sensex today are Tech Mahindra (up 3.5%) and Infosys (up 1.4%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 25,810.9 (down 1.4%). Hero Motocorp and Reliance Ind. are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,118.7 to 84,391.1, registering a gain of 18,272.4 points (up 27.6%).

SUBEX Financial Update...

SUBEX net profit grew 41.9% YoY to Rs -112 million for the quarter ended June 2024, compared to a loss of Rs 193 million a year ago. Net sales rose 1.3% to Rs 682 million during the period as against Rs 673 million in April-June 2023.

For the year ended March 2024, SUBEX reported 274.4% decrease in net profit to Rs -1,917 million compared to net loss of Rs 512 million during FY23. Revenue of the company grew 11.1% to Rs 3,097 million during FY24.

The current Price to earnings ratio of SUBEX, based on rolling 12 month earnings, stands at -8.6.

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