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Home Trending Stocks

Trending Stocks – Mindtree Ltd.

StockEdge by StockEdge
July 14, 2021 - Updated on November 21, 2023
Reading Time: 4 mins read
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A stock chart for Mindtree Ltd. showing a 3 month period with a slight increase in stock price. The chart is a line graph with a green line representing the stock price and a red line representing the volume. The chart has various labels and indicators such as “BSE”, “3M”, “SUPR”, “VOL”, and “RSI”. The chart is on a blue background with white text.

Check out the share trend of Mindtree Ltd.

Mindtree Ltd. – Highlights

  • The shares of Mindtree Ltd., was trading at Rs.2702.15, up by 8.31%, hitting a 52 week high of Rs.2728 in today’s trading session.
  • The stock price has increased by 176.31% in last one year, while the benchmark index S&P BSE Sensex has increased by 46.82%.
  • The stock soared after the information technology (IT) consulting and services firm reported strong results for the quarter ended June 2021. (Q1FY22).
  • Mindtree reported a net profit of Rs 343.4 crore for the quarter ended June 30, 2021, a 61.2% increase year on year, and an 8.2% increase sequentially. The company’s revenue increased by 20.1% to Rs 2,291.7 crore for the quarter, thanks to broad-based growth across verticals and geographies. The company’s revenue increased 8.6% sequentially.
  • Mindtree’s revenue increased 7.7% sequentially in dollar terms, while profit increased 7.5%.
  • Debashis Chatterjee, who is the Chief Executive Officer and Managing Director said “We are pleased to report a strong start to FY22, with first-quarter growth across all service lines and industry segments.” We are confident in our ability to maintain an industry-leading growth momentum. In fact, this will be Mindtree’s third consecutive quarter of 5% sequential growth”.
  • He further added that “Our highest-ever order book of $504 million affirms that our focused strategy execution and client-centricity in reimagining business models for the digital era are assisting us in driving profitable and sustainable growth. We are proud of the passion and perseverance with which Mindtree Minds has continued to deliver value to our clients and exceed their expectations in the face of adversity”.
  • During the quarter, the company added a net of 3442 associates. Mindtree also reported 13.7% attrition for the quarter, up from 12.1% in the previous quarter. The company also stated that a portion of its workforce would receive pay raises. “The supply side situation we have managed very well,” Chatterjee said on rising attrition. We’ve also increased our intake of fresher.
  • Incorporated in 1999, Mindtree is an international IT consulting and implementation firm that provides business solutions through global software development. Analytics and information management, application development and maintenance, business process management, business technology consulting, cloud, digital business, independent testing, infrastructure management services, mobility, product engineering, and SAP services are among the services provided by the company. With effect from July 2, 2019, the company became a subsidiary of Larsen & Toubro Limited (L&T).

For more fundamental data and analysis, click on Mindtree Ltd.

A screenshot of a stock market app showing the technicals, fundamentals, and ratios for Mindtree Limited, a technology consulting and digital solutions company based in India. The app has a blue header with the company’s name and logo, and three tabs: Technicals, Fundamentals, and Ratios. The app displays various financial metrics for the company, such as earnings, price per share, earnings per share, industry-PE, and more. The app also provides an overview of the company’s sector, website, and profile. The screenshot is taken from the Stock Edge app.

Read our latest article on Balrampur Chini Mills Ltd. – India’s 2nd largest sugar manufacturer

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Disclaimer: This document and the process of identifying the potential of a company has been produced for only learning purposes. Since equity involves individual judgments, this analysis should be used for only learning enhancements and cannot be considered to be a recommendation on any stock or sector.

Tags: IT IndustryLarsen & Toubro Group CompanyMindtree Ltd.Quarterly Resultstrending stocks
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