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L&T TECHNOLOGY SERVICES Plunges 3%; BSE IT Index Down 2.0%
Thu, 28 Nov 11:53

L&T TECHNOLOGY SERVICES Plunges 3%; BSE IT Index Down 2.0%Image source: phive2015/www.istockphoto.com

L&T TECHNOLOGY SERVICES share price has plunged 3% and is presently trading at Rs 5,244.0.

Meanwhile, the BSE IT index is at 42,770.6 (down 2.0%).

Among the top losers in the BSE IT index today are Oracle Financial Services (down 3.0%) and Infosys (down 2.8%).

TANLA SOLUTIONS (up 1.8%) and Sonata Software (up 0.7%) are among the top gainers today.

Over the last one year, L&T TECHNOLOGY SERVICES has moved up from Rs 4,586.5 to Rs 5,244.0, registering a gain of Rs 657.5 (up 14.3%).

On the other hand, the BSE IT index has moved up from 32,787.7 to 42,770.6, registering a gain of 30.4% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 186.5%), Firstsource Solutions (up 114.5%) and PERSISTENT SYSTEMS (up 84.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,537.5 (down 0.9%).

The top losers among the BSE Sensex today are Infosys (down 2.8%) and M&M (down 2.7%). The most traded stocks in the BSE Sensex are MUNDRA PORT & SEZ and Axis Bank.

In the meantime, NSE Nifty is at 24,107.2 (down 0.7%). Infosys and Tech Mahindra are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,174.2 to 79,537.5, registering a gain of 13,363.3 points (up 20.2%).

L&T TECHNOLOGY SERVICES Financial Update...

L&T TECHNOLOGY SERVICES net profit grew 1.3% YoY to Rs 3,200 million for the quarter ended September 2024, compared to a profit of Rs 3,159 million a year ago. Net sales rose 7.8% to Rs 25,729 million during the period as against Rs 23,865 million in July-September 2023.

For the year ended March 2024, L&T TECHNOLOGY SERVICES reported 7.4% increase in net profit to Rs 13,063 million compared to net profit of Rs 12,164 million during FY23. Revenue of the company grew 9.4% to Rs 96,473 million during FY24.

The current Price to earnings ratio of L&T TECHNOLOGY SERVICES, based on rolling 12 month earnings, stands at 42.3.


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