LTIMindtree Ltd Share Price – NSE  /  BSE

IT - Software, Mid Cap

The domestic equity benchmarks traded with major gains in afternoon trade. The Nifty scaled above the 24,700 level. IT, FMCG and financial services shares advanced while media, realty and consumer durables shares declined. Trading could be volatile due to weekly F&O series expiry today.

At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 475.11 points or 0.59% to 81,195.30. The Nifty 50 index added 123.05 points or 0.50% to 24,736.05.

The Sensex and Nifty clocked an all-time high of 81,166.12 and 24,738.95, respectively in afternoon trade.

The broader market underperformed the frontline indices, the S&P BSE Mid-Cap index shed 1.06% and the S&P BSE Small-Cap index fell 0.79%.

The market breadth was weak. On the BSE, 1,347 shares rose and 2,487 shares fell. A total of 111 shares were unchanged.

Economy:

The International Monetary Fund (IMF) upgraded India's economic outlook, raising its growth forecast for the 2024-25 financial year to 7%. This revision is driven by an anticipated improvement in private consumption, especially in rural areas.

The IMF maintained its projection of 6.5% growth for the following year (2025-26). This information comes from their latest World Economic Outlook report.

In April, the IMF had already revised India's growth forecast upwards, from 6.5% to 6.8%. This latest increase reflects continued optimism about the Indian economy.

Gainers & Losers:

LTIMindtree (up 2.85%), Tata Consultancy Services (up 2.82%), Oil and Natural Gas Corporation (up 2.03%), Wipro (up 1.98%) and Bajaj Finserv (up 1.91%) were major Nifty gainers.

Asian Paints (down 2.17%), Hero MotoCorp (down 2.04%), Bajaj Finance (down 1.98%), Coal India (down 1.74%) and UltraTech Cement (down 1.06%) were major Nifty losers.

LTImindtree jumped 2.85% after the company’s consolidated net profit increased 3.1% to Rs 1,135.1 crore in Q1 FY25 as compared with Rs 1,100.7 crore in Q4 FY24. Revenue from operations rose 2.8% QoQ to Rs 9,142.6 crore in Q1 FY25.

Asian Paints declined 2.17%. The company’s consolidated net profit tumbled 24.54% to Rs 1,169.98 crore in Q1 FY25 as against Rs 1,550.37 crore reported in Q1 FY24. Revenue from operations stood at Rs 8,943.24 crore in Q1 FY25, down 2.3% from Rs 9,153.79 crore recorded in the corresponding quarter previous year.

Stocks in Spotlight:

Just Dial zoomed 17.90% after the company reported 69.33% surge in net profit to Rs 141.22 crore in Q1 FY25 as compared with Rs 83.40 crore posted in Q1 FY24. Revenue from operations grew by 13.6% year on year to Rs 280.57 crore in the quarter ended 30 June 2024.

Tata Power Company declined 1.37%. The company’s wholly owned subsidiary, Tata Power Renewable Energy (TPREL) has signed memorandum of understanding (MoU) with NHPC Renewable Energy (NHPC-REL) for installation of rooftop solar projects (RTS Projects) across government buildings.

Jubilant Ingrevia tumbled 3.97% after the company reported 15.36% decline in consolidated net profit to Rs 48.74 crore in Q1 FY25 compared with net profit of Rs 57.59 crore in Q1 FY24. Total revenue from operations stood at Rs 1,024.34 crore in Q1 FY25, down 4.71% from Rs 1,075.02 crore in Q1 FY24.

Global Markets:

European markets open higher ahead of ECB rate decision.

Asian stocks declined on Thursday. Chip stocks dipped as investors worried about potential trade war escalation between the US and China. Meanwhile, the Japanese yen strengthened to a six-week high, likely due to recent interventions by the Japanese government.

News of stricter US export controls on advanced chip technology to China caused chip stocks and the Nasdaq to fall in the US overnight. This decline was led by tech giants Nvidia and Apple.

Later today, investors will focus on the European Central Bank's policy decision. The bank is likely to maintain current interest rates, but their comments will be closely watched for hints about future rate adjustments.

US markets ended Wednesday with mixed results. The S&P 500 and Nasdaq took a significant hit due to a sell-off in tech stocks driven by trade war concerns. The S&P 500 dropped 1.4%, and the Nasdaq plunged 2.8%. However, the Dow Jones bucked the trend, rising 0.6% (243 points) after a surge of over 700 points on the previous day.

Powered by Capital Market - Live News

Revenue from operations rose 2.8% QoQ to Rs 9,142.6 crore in Q1 FY25.

As compared with Q1 FY24, the company’s net profit declined 1.5% and revenue jumped 5.1%.

Profit before tax (PBT) stood at Rs 1,525.6 crore in Q1 FY25, up 5.34% QoQ and 0.7% YoY.

In Q1 FY25, EBITDA was at Rs 1606.1 crore, down 1.8% YoY. EBITDA margin fell to 17.6% in Q1 FY25 as against 18.8% in Q1 FY24.

In dollar terms, the IT firm’s revenue stood at $ 1,096.2 million in Q1 FY25 up 2.5% QoQ and 3.5% YoY. Net profit was at $ 136.1 million, up 2.8% QoQ and down 2.9% YoY. In constant currency terms, revenue grew 2.6% QoQ and 3.7% YoY.

The company said that it added 27 new clients during the quarter ended 30 June 2024. Total client base currently stood at 748 active clients.

Total headcount in Q1 FY25 was 81,934. The firm's TTM attrition rate stood at 14.4% in Q1 FY25.

Debashis Chatterjee, chief executive officer and managing director, said, “While the environment remains unchanged, fiscal 25 started on a positive note for us with Q1FY25 revenue of $1.1 billion, registering a 2.5% QoQ and 3.5% YoY revenue growth in $ terms. Our Q1FY25 EBIT expanded to 15% and order inflow remained stable at $1.4 billion. Our top 3 industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence.”

Meanwhile, the company’s board approved to setup a wholly owned subsidiary in Brazil with an initial investment of $1 million in one or more tranches.

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. LTIMindtree a Larsen & Toubro Group company combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale.

Powered by Capital Market - Live News

The key domestic indices traded with moderate losses in early trade. The Nifty traded below 24,550 mark. Barring the Nifty IT index, all the other sectoral indices on the NSE traded in red. Trading could be volatile due to weekly F&O series expiry today.

At 09:30 IST, the barometer index, the S&P BSE Sensex, was down 226.37 points or 0.28% to 80,491.03. The Nifty 50 index rose 74.65 points or 0.30% to 24,538.35.

In the broader market, the S&P BSE Mid-Cap index fell 0.39% and the S&P BSE Small-Cap index shed 0.19%.

The market breadth was negative. On the BSE, 1,416 shares rose and 1,588 shares fell. A total of 138 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,271.45 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 529.48 crore in the Indian equity market on 16 July 2024, provisional data showed.

Economy:

The International Monetary Fund (IMF) upgraded India's economic outlook, raising its growth forecast for the 2024-25 financial year to 7%. This revision is driven by an anticipated improvement in private consumption, especially in rural areas.

The IMF maintained its projection of 6.5% growth for the following year (2025-26). This information comes from their latest World Economic Outlook report.

In April, the IMF had already revised India's growth forecast upwards, from 6.5% to 6.8%. This latest increase reflects continued optimism about the Indian economy.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.01% to 6.967 as compared with previous close 6.966.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.5600, compared with its close of 83.5850 during the previous trading session.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 103.79.

The United States 10-year bond yield rose 0.73% to 4.173.

In the commodities market, Brent crude for September 2024 settlement gained 35 cents or 0.41% to $85.43 a barrel.

Stocks in Spotlight:

LTIMindtree rallied 3.38% after the company reported 3.1% increase in consolidated net profit to Rs 1,135.1 crore in Q1 FY25 as compared with Rs 1,100.7 crore in Q4 FY24. Revenue from operations increased 2.8% QoQ to Rs 9,142.6 crore in Q1 FY25.

TV18 Broadcast declined 2.89% after the company reported a consolidated net loss of Rs 50.09 crore in Q1 FY25 as against a net profit of Rs 44.33 crore reported in Q1 FY24. Revenue from operations was at Rs 3,069.32 crore in Q1 FY25, down 3.36% from Rs 3,176.03 crore posted in Q1 FY24.

Asian Paints slipped 1.92% after the company's consolidated net profit tumbled 24.54% to Rs 1,169.98 crore in Q1 FY25 as against Rs 1,550.37 crore reported in Q1 FY24. Revenue from operations stood at Rs 8,943.24 crore in Q1 FY25, down 2.3% from Rs 9,153.79 crore recorded in the corresponding quarter previous year.

Global Market:

Asian stocks traded mixed on Thursday. Chip stocks dipped as investors worried about potential trade war escalation between the US and China. Meanwhile, the Japanese yen strengthened to a six-week high, likely due to recent interventions by the Japanese government.

News of stricter US export controls on advanced chip technology to China caused chip stocks and the Nasdaq to fall in the US overnight. This decline was led by tech giants Nvidia and Apple.

Later today, investors will focus on the European Central Bank's policy decision. The bank is likely to maintain current interest rates, but their comments will be closely watched for hints about future rate adjustments.

US markets ended Wednesday with mixed results. The S&P 500 and Nasdaq took a significant hit due to a sell-off in tech stocks driven by trade war concerns. The S&P 500 dropped 1.4%, and the Nasdaq plunged 2.8%. However, the Dow Jones bucked the trend, rising 0.6% (243 points) after a surge of over 700 points on the previous day.

Powered by Capital Market - Live News

Securities in F&O ban: Balrampur Chini Mills, Chambal Fertilizers, GMR Power & Urban Infra, GNFC, Hindustan Copper, Piramal Enterprises, RBL Bank, Vedanta.

Upcoming results: Infosys, L&T Technology Services, Tata Communications, Central Bank of India, CIE Automotive India, Dalmia Bharat, Grindwell Norton, Havells India, JSW Infrastructure, Mastek, Newgen Software Technologies, Persistent Systems, Polycab India, Rallis India, Sagar Cements, Shoppers Stop, South Indian Bank, Sterling and Wilson Renewable Energy, Tanla Platforms, and Tata Technologies.

LTIMindtree reported 3.1% increase in consolidated net profit to Rs 1,135.1 crore in Q1 FY25 as compared with Rs 1,100.7 crore in Q4 FY24. Revenue from operations increased 2.8% QoQ to Rs 9,142.6 crore in Q1 FY25.

L&T Finance reported 29.11% increase in consolidated net profit to Rs 685.51 crore on 12.08% rise in total income to Rs 3,784.61 crore in Q1 FY25 over Q1 FY24.

Asian Paints’ consolidated net profit tumbled 24.54% to Rs 1,169.98 crore in Q1 FY25 as against Rs 1,550.37 crore reported in Q1 FY24. Revenue from operations stood at Rs 8,943.24 crore in Q1 FY25, down 2.3% from Rs 9,153.79 crore recorded in the corresponding quarter previous year.

TV18 Broadcast reported a consolidated net loss of Rs 50.09 crore in Q1 FY25 as against a net profit of Rs 44.33 crore reported in Q1 FY24. Revenue from operations was at Rs 3,069.32 crore in Q1 FY25, down 3.36% from Rs 3,176.03 crore posted in Q1 FY24.

Zee Entertainment Enterprises said that its board has approved to raise Rs 1,997 crore by issuing foreign currency convertible bonds (FCCBs) to Resonance Opportunities Fund, St. John’s Wood Fund and Ebisu Global Opportunities Fund on private placement basis.

Network18 Media& Investments consolidated net loss widened to Rs 102.41 crore in Q1 FY25 as compared to net loss of Rs 38.73 crore recorded in Q1 FY24. Revenue from operations slipped 3.02% to Rs 3,140.92 crore in Q1 FY25 as against Rs 3,238.94 crore posted in Q1 FY24.

Jubilant Ingrevia reported 15.36% decline in consolidated net profit to Rs 48.74 crore in Q1 FY25 compared with net profit of Rs 57.59 crore in Q1 FY24. Total revenue from operations stood at Rs 1,024.34 crore in Q1 FY25, down 4.71% from Rs 1,075.02 crore in Q1 FY24.

Indian Oil Corporation (IOCL) announced that it has issued 2.5 lakh unsecured, listed, rated, taxable, redeemable, non-convertible debentures worth Rs 2,500 crore via private placement basis on 16 July 2024.

Triveni Engineering & Industries started commercial operations of its Indian –made foreign liquor business and launched two whiskey products, Matsya and The Crafters stamp.

Powered by Capital Market - Live News