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Sasken Technologies Gains 6%; BSE IT Index Up 2.0%
Wed, 23 Oct 10:41

Sasken Technologies Gains 6%; BSE IT Index Up 2.0%Image source: Ivcandy/www.istockphoto.com

Sasken Technologies share price has zoomed 6% and is presently trading at Rs 1,716.8.

Meanwhile, the BSE IT index is at 42,198.5 (up 2.0%).

Among the top gainers in the BSE IT index today are PERSISTENT SYSTEMS (up 11.8%) and Coforge (up 11.7%).

TANLA SOLUTIONS (down 1.9%) and INDIAMART INTERMESH (down 1.5%) are among the top losers today.

Over the last one year, Sasken Technologies has moved up from Rs 1,140.9 to Rs 1,716.8, registering a gain of Rs 575.9 (up 50.5%).

On the other hand, the BSE IT index has moved up from 31,255.0 to 42,198.5, registering a gain of 35.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 185.2%), Firstsource Solutions (up 107.7%) and PERSISTENT SYSTEMS (up 98.3%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 80,324.5 (up 0.1%).

The top gainers among the BSE Sensex today are Bajaj Finance (up 5.5%) and Tech Mahindra (up 1.7%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,532.7 (up 0.3%). Bajaj Finance and Bajaj Auto are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,324.5, registering a gain of 15,752.7 points (up 24.4%).

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 36.7.


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