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NIIT Gains 6%; BSE IT Index Up 1.0%
Mon, 14 Oct 16:19

NIIT Gains 6%; BSE IT Index Up 1.0%Image source: DNY59/www.istockphoto.com

NIIT share price has zoomed 6% and is presently trading at Rs 177.0.

Meanwhile, the BSE IT index is at 43,257.8 (up 1.0%).

Among the top gainers in the BSE IT index today are Wipro (up 4.1%) and ZENSAR TECHNOLOGIES (up 3.9%).

INTELLECT DESIGN (down 1.8%) and INFIBEAM AVENUES (down 1.5%) are among the top losers today.

Over the last one year, NIIT has moved up from Rs 120.6 to Rs 177.0, registering a gain of Rs 56.4 (up 46.8%).

On the other hand, the BSE IT index has moved up from 32,901.6 to 43,257.8, registering a gain of 31.5% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 182.4%), Firstsource Solutions (up 96.5%) and PERSISTENT SYSTEMS (up 94.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,973.1 (up 0.7%).

The top gainers among the BSE Sensex today are Tech Mahindra (up 2.9%) and HDFC Bank (up 2.3%). The most traded stocks in the BSE Sensex are Tata Steel and HDFC Bank.

In the meantime, NSE Nifty is at 25,142.3 (up 0.7%). Wipro and Tech Mahindra are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,079.4 to 81,973.1, registering a gain of 15,893.7 points (up 24.1%).

NIIT Financial Update...

NIIT net profit grew 221.7% YoY to Rs 83 million for the quarter ended June 2024, compared to a profit of Rs 26 million a year ago. Net sales rose 31.9% to Rs 825 million during the period as against Rs 625 million in April-June 2023.

For the year ended March 2024, NIIT reported 259.0% increase in net profit to Rs 399 million compared to net profit of Rs 111 million during FY23. Revenue of the company fell 11.1% to Rs 3,035 million during FY24.

The current Price to earnings ratio of NIIT, based on rolling 12 month earnings, stands at 52.5.

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