L&T Infotech shares up 0.19% as Sensex rises

Shares of Larsen & Toubro Infotech Ltd. gained 0.19 per cent to Rs 6451.2 in Wednesday's session as of 12:28PM (IST) even as the equity benchmark Sensex traded 805.18 points higher at 54229.27.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 7595.25 and a 52-week low of Rs 3525.95 on NSE. Around 9300 shares changed hands on the counter till 12:28PM (IST).

The stock opened at Rs 6520.0 and has touched an intraday high and low of Rs 6520.0 and Rs 6423.2 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 51.26, earnings per share (EPS) of Rs 125.84 and price to book value (PB) of 9.7, while the return on equity (ROE) stood at Rs 26.8.


Promoter/ FII Holding
The promoters held 74.07 per cent stake in the company as of March 09, while FII and MF ownerships stood at 12.53 per cent and 4.39 per cent, respectively.

Key Financials
With a market capitalisation of Rs 113034.47 crore, the company operates in the IT Consulting & Software - Mid Cap industry. For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 4237.5 crore, up 9.26 per cent from the previous quarter?s Rs 3878.2 crore and up 31.53 per cent from the same quarter a year ago. The company reported net profit of Rs 612.0 crore for the latest quarter, up 17.99 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 59.28. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.