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SAKSOFT Gains 7%; BSE IT Index Up 0.6%
Thu, 11 Jul 10:4

SAKSOFT Gains 7%; BSE IT Index Up 0.6%Image source: Kameleon007 /www.istockphoto.com

SAKSOFT share price has zoomed 7% and is presently trading at Rs 296.3.

Meanwhile, the BSE IT index is at 38,332.1 (up 0.6%).

Among the top gainers in the BSE IT index today are Mastek (up 1.7%) and KPIT TECHNOLOGIES (up 1.4%).

Tata Elxsi (down 1.8%) and ROUTE MOBILE (down 0.9%) are among the top losers today.

Over the last one year, SAKSOFT has moved down from Rs 310.3 to Rs 296.3, registering a loss of Rs 14.0 (down 4.5%).

On the other hand, the BSE IT index has moved up from 29,484.7 to 38,332.1, registering a gain of 30.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 175.0%), Birlasoft (up 102.0%) and INFIBEAM AVENUES (up 95.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,993.3 (up 0.1%).

The top gainers among the BSE Sensex today are Tata Motors (up 1.6%) and Tata Steel (up 1.4%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,341.5 (up 0.1%). Coal India and Tata Steel are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,344.2 to 79,993.3, registering a gain of 14,649.1 points (up 22.4%).

SAKSOFT Financial Update...

SAKSOFT net profit fell 7.1% YoY to Rs 232 million for the quarter ended March 2024, compared to a profit of Rs 250 million a year ago. Net sales rose 7.1% to Rs 1,949 million during the period as against Rs 1,821 million in January-March 2023.

For the year ended March 2023, SAKSOFT reported 29.6% increase in net profit to Rs 820 million compared to net profit of Rs 633 million during FY22. Revenue of the company grew 38.5% to Rs 6,656 million during FY23.

The current Price to earnings ratio of SAKSOFT, based on rolling 12 month earnings, stands at 32.6.

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