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Mphasis Gains 4%; BSE IT Index Up 0.7%
Thu, 17 Oct 9:39

Mphasis Gains 4%; BSE IT Index Up 0.7%Image source: StarLineArts/www.istockphoto.com

Mphasis share price has zoomed 4% and is presently trading at Rs 3,015.4.

Meanwhile, the BSE IT index is at 42,960.6 (up 0.7%).

Among the top gainers in the BSE IT index today are Tata Elxsi (up 1.6%) and CYIENT (up 1.5%).

Firstsource Solutions (down 1.6%) and INDIAMART INTERMESH (down 1.4%) are among the top losers today.

Over the last one year, Mphasis has moved up from Rs 2,357.4 to Rs 3,015.4, registering a gain of Rs 658.0 (up 27.9%).

On the other hand, the BSE IT index has moved up from 32,175.6 to 42,960.6, registering a gain of 33.5% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 184.4%), Firstsource Solutions (up 101.8%) and PERSISTENT SYSTEMS (up 92.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,569.8 (up 0.1%).

The top gainers among the BSE Sensex today are Infosys (up 1.3%) and SBI (up 1.0%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,903.8 (down 0.3%). Bajaj Auto and Hero Motocorp are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 81,569.8, registering a gain of 15,402.9 points (up 23.3%).

Mphasis Financial Update...

Mphasis net profit grew 2.1% YoY to Rs 4,045 million for the quarter ended June 2024, compared to a profit of Rs 3,961 million a year ago. Net sales rose 5.2% to Rs 34,225 million during the period as against Rs 32,520 million in April-June 2023.

For the year ended March 2024, Mphasis reported 5.1% decrease in net profit to Rs 15,548 million compared to net profit of Rs 16,379 million during FY23. Revenue of the company fell 3.8% to Rs 132,785 million during FY24.

The current Price to earnings ratio of Mphasis, based on rolling 12 month earnings, stands at 36.5.

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