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Markets will remain closed on 20th November, 2024 on account of Assembly Elections in Maharashtra.

NIIT Gains 6%; BSE IT Index Up 1.5%
Tue, 19 Nov 10:0

NIIT Gains 6%; BSE IT Index Up 1.5%Image source: asbe/www.istockphoto.com

NIIT share price has zoomed 6% and is presently trading at Rs 193.0.

Meanwhile, the BSE IT index is at 41,718.0 (up 1.5%).

Among the top gainers in the BSE IT index today are Eclerx Services (up 3.8%) and Firstsource Solutions (up 3.0%).

Over the last one year, NIIT has moved up from Rs 117.5 to Rs 193.0, registering a gain of Rs 75.5 (up 64.3%).

On the other hand, the BSE IT index has moved up from 32,022.5 to 41,718.0, registering a gain of 30.3% 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 113.5%) and PERSISTENT SYSTEMS (up 83.6%).

Revealed: Our Big Prediction

What About the Benchmark Indices?

The BSE Sensex is at 78,042.6 (up 0.9%).

The top gainers among the BSE Sensex today are M&M (up 3.2%) and MUNDRA PORT & SEZ (up 2.2%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 23,675.7 (up 1.0%). Trent and M&M are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,675.9 to 78,042.6, registering a gain of 12,366.7 points (up 18.8%).

NIIT Financial Update...

NIIT net profit grew 24.8% YoY to Rs 134 million for the quarter ended September 2024, compared to a profit of Rs 107 million a year ago. Net sales rose 11.4% to Rs 907 million during the period as against Rs 814 million in July-September 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 54.1.

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