LTIMindtree shares down 0.59% as Nifty drops

NEW DELHI: Shares of LTIMindtree Ltd. traded 0.59 per cent down in Friday's trade at 11:37AM (IST). Around 6,678 shares changed hands on the counter.

The scrip opened at Rs 5451.15 and touched an intraday high and low of Rs 5465.0 and Rs 5361.0, respectively, in the session so far. The stock of LTIMindtree Ltd. quoted a 52-week high of Rs 6442.65 and a 52-week low of Rs 4130.3.

As per BSE, the total market cap of the LTIMindtree Ltd. stood at Rs 159008.69 crore at the time of writing this report.


Key Financials
The company reported consolidated net sales of Rs 9236.1 crore for the quarter ended 31-Dec-2023, up 2.07 per cent from previous quarter's Rs 9048.6 crore and up 5.29 per cent from the year-ago quarter's Rs 8771.8 crore.

The net profit for latest quarter stood at Rs 1168.9 crore, up 16.83 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Dec-2023, domestic institutional investors held 7.06 per cent stake in the company, while foreign institutional investors held 8.65 per cent and the promoters 68.64 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 34.6 and a price-to-book ratio of 8.49. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

LTIMindtree Ltd. belongs to the IT Consulting & Software - Mid Cap industry.