MINDTREE at All Time High; BSE IT index down 1.2%

Fri 16 Jul 13:44

MINDTREE share price has reached an all-time high at Rs 2,746 (up 0.1%).

Meanwhile, the BSE IT Index stands at 30,488 (down 1.2%).

Top winners in today’s BSE IT index include MINDTREE (+0.1%) and ECLERX SERVICES (increase by 0.4%).

HEXAWARE TECHNOLOGIES and WIPRO (-0.2%) are among the top losers today.

In the past year, MINDTREE has surged from Rs 978 to Rs 2,746, making a profit of Rs 1,768 (up 179.6%).

The BSE IT rose from 15,741 to 30,488, an increase of 14,747 points (an increase of 90.9%) in the past 12 months.

The biggest winners of BSE IT Index stocks over the same period were INTELLECT DESIGN (+575.3%), FIRSTSOURCE SOLUTIONS (up 434.0%) and TATA ELXSI (up 388.1%).

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What about the benchmark indices?

The BSE Sensex stands at 53,291 (-0.2%). The biggest winners of the BSE Sensex shares today are BHARTI AIRTEL (+2.7%). TATA STEEL (up 1.1%) and RELIANCE IND. (increase 0.9%). Other winners are ULTRATECH CEMENT (+0.9%) and SUN PHARMA (+0.8%). The most traded shares in the BSE Sensex are BHARTI AIRTEL and ITC.

Meanwhile, NSE Nifty stands at 15,962 (-0.2%). The top winners in the NSE Nifty include DIVIS LABORATORIES (+3.3%), BHARTI AIRTEL (+2.8%) and TATA STEEL (+1.1%). Other gains include ULTRATECH CEMENT (+1.1%) and RELIANCE IND. (increase 0.9%).

Over the past 12 months, the BSE Sensex has risen from 36,033 to 53,291, with a gain of 17,258 points (up 47.2%).

MINDTREE financial update…

MINDTREE net profit dropped to Rs 3 billion for the quarter ending in March 2021, compared to a loss of Rs 3 billion a year ago. Net sales increased by 4.2% to Rs 21.1 billion in the period, from Rs 20.2 billion in January-March 2020.

For the year ending March 2021, MINDTREE reported a 76.0% increase in net profit to Rs 11.1 billion compared to net profit of Rs 6.3 billion in FY20.

The company’s revenue grew 2.6% to Rs 80 billion in FY21.

The current Price-earnings ratio of MINDTREE, based on 12-month rolling earnings, stands at 40.6x. p >

What else is happening in the markets today? Dig into…

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