Share price of L&T Infotech falls as Nifty weakens

The return on equity (ROE) for the stock stood at 26.05 per cent. Traded volume on the counter stood at 01:55PM shares and turnover at Rs 18.11 crore around that time. The stock of LTIMindtree Ltd quoted a 52-week high price of Rs 7595.25 and 52-week low prices of Rs 3733.25, respectively.

The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 0.59.

Promotor/FII Holding

Promoters held 74.03 per cent stake in the company as of 30-Sep-2022, while overseas investors held 8.42 per cent and domestic institutional investors had 5.09 per cent.

Key Financials

The company reported consolidated sales of Rs 4976.0 crore for the quarter ended 30-Sep-2022, up 6.62 per cent from previous quarter’s Rs 4666.9 crore and up 28.31 per cent from the year-ago quarter’s Rs 3878.2 crore. Net profit after tax for the latest quarter stood at Rs 679.3 crore, up 23.17 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.

It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.