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Sasken Technologies Gains 7%; BSE IT Index Up 1.2%
Wed, 9 Oct 10:14

Sasken Technologies Gains 7%; BSE IT Index Up 1.2%Image source: Nikada/www.istockphoto.com

Sasken Technologies share price has zoomed 7% and is presently trading at Rs 1,564.4.

Meanwhile, the BSE IT index is at 43,249.1 (up 1.2%).

Among the top gainers in the BSE IT index today are CYIENT (up 3.3%) and Birlasoft (up 2.5%).

Over the last one year, Sasken Technologies has moved up from Rs 1,307.7 to Rs 1,564.4, registering a gain of Rs 256.7 (up 19.6%).

On the other hand, the BSE IT index has moved up from 32,584.2 to 43,249.1, registering a gain of 32.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 180.3%), Firstsource Solutions (up 99.7%) and PERSISTENT SYSTEMS (up 90.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 82,045.5 (up 0.5%).

The top gainers among the BSE Sensex today are Tata Motors (up 2.3%) and Tech Mahindra (up 2.1%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,178.3 (up 0.7%). Shriram Transport and Trent are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.4 to 82,045.5, registering a gain of 16,533.1 points (up 25.2%).

Sasken Technologies Financial Update...

Sasken Technologies net profit fell 31.2% YoY to Rs 177 million for the quarter ended June 2024, compared to a profit of Rs 257 million a year ago. Net sales rose 25.3% to Rs 1,234 million during the period as against Rs 985 million in April-June 2023.

For the year ended March 2024, Sasken Technologies reported 20.8% decrease in net profit to Rs 787 million compared to net profit of Rs 995 million during FY23. Revenue of the company fell 9.1% to Rs 4,064 million during FY24.

The current Price to earnings ratio of Sasken Technologies, based on rolling 12 month earnings, stands at 33.4.

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