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SUBEX Plunges 7%; BSE IT Index Down 1.3%
Mon, 21 Oct 16:9

SUBEX Plunges 7%; BSE IT Index Down 1.3%Image source: Sakorn BernardaSv/www.istockphoto.com

SUBEX share price has plunged 7% and is presently trading at Rs 24.0.

Meanwhile, the BSE IT index is at 41,833.3 (down 1.3%).

Among the top losers in the BSE IT index today are INDIAMART INTERMESH (down 16.5%) and Coforge (down 5.5%).

L&T TECHNOLOGY SERVICES (up 2.4%) and ROUTE MOBILE (up 1.7%) are among the top gainers today.

Over the last one year, SUBEX has moved down from Rs 33.4 to Rs 24.0, registering a loss of Rs 9.5 (down 28.3%).

On the other hand, the BSE IT index has moved up from 32,265.5 to 41,833.3, registering a gain of 29.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 168.1%), Firstsource Solutions (up 99.8%) and PERSISTENT SYSTEMS (up 84.3%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 81,151.3 (down 0.1%).

The top losers among the BSE Sensex today are Kotak Bank (down 4.7%) and Bajaj Finserv (down 3.0%). The most traded stocks in the BSE Sensex are HDFC Bank and Tata Steel.

In the meantime, NSE Nifty is at 24,739.5 (down 0.5%). Tata Consumer Products and Kotak Bank are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,428.1 to 81,151.3, registering a gain of 14,723.2 points (up 22.2%).

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 -7.3.

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