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    MINDTREE   INE018I01017

MINDTREE LIMITED

(MINDTREE)
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Indian shares end lower as IT, auto drag

11/24/2021 | 05:44am EST

BENGALURU, Nov 24 (Reuters) - Indian shares erased early gains to end Wednesday lower, as auto, IT and consumer stocks fell, outweighing gains in the energy and banking sectors.

The blue-chip NSE Nifty 50 index ended 0.5% lower at 17,415.05, while the benchmark S&P BSE Sensex fell 0.5% to 58,340.99.

A jittery broader Asian market also dented sentiment as oil prices remained volatile in the face of price-cooling moves by the United States and other countries, and amid concerns the U.S. Federal Reserve could speed up tapering of stimulus.

"The market tried to consolidate after a fall earlier this week, but it looks like it was not able to hold gains, mainly due to global triggers," said Narendra Solanki, Head-Equity Research at Anand Rathi Shares & Stock Brokers.

Automobile stocks were likely reacting to automakers' lack of confidence on demand picking up in November and December, Solanki added.

Auto stocks fell 1.28%, dragged lower by Eicher Motors and Maruti Suzuki, down 2.39% and 2.34% respectively.

The Nifty IT index fell 1.52%, led by losses in Infosys Ltd , Larsen and Toubro Infotech and MindTree Ltd , all down between 2.3% and 3.4%.

The fast-moving consumer goods sub-index was down nearly 1% on concerns over rising commodity prices impacting margins.

Nifty Energy was among sub-indexes that held on to gains, ending up 0.27%, with oil prices in focus after India said it would sell 5 million barrels from its reserves in tandem with other major countries to control prices.

State-run Oil and Natural Gas Corporation was the top gainer on the sub-index, rising 4.26%.

Digital payments start-up Paytm rose 17.2%, climbing for a second day on Wednesday.

Globally, investors have been focusing on rising COVID-19 cases in Europe, weaker economic sentiment in Germany, inflation concerns and a bagful of U.S. data ahead of Thanksgiving.

(Reporting by Vishwadha Chander in Bengaluru; editing by Uttaresh.V and Vinay Dwivedi)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EICHER MOTORS LIMITED -1.58% 2644.15 End-of-day quote.2.09%
INFOSYS LIMITED -2.53% 1678.6 Delayed Quote.-8.77%
LARSEN & TOUBRO INFOTECH LIMITED -4.78% 5745.7 Delayed Quote.-17.70%
MARUTI SUZUKI INDIA LTD 2.53% 8820.2 Delayed Quote.15.84%
MINDTREE LIMITED -6.32% 3585.2 Delayed Quote.-19.93%
OIL AND NATURAL GAS CORPORATION LIMITED 0.33% 165.7 Delayed Quote.15.98%
ONE97 COMMUNICATIONS LIMITED -2.31% 893.7 Delayed Quote.-31.45%
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Analyst Recommendations on MINDTREE LIMITED
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Financials
Sales 2022 105 B 1 394 M 1 394 M
Net income 2022 15 789 M 210 M 210 M
Net cash 2022 18 136 M 241 M 241 M
P/E ratio 2022 37,5x
Yield 2022 0,89%
Capitalization 591 B 7 890 M 7 856 M
EV / Sales 2022 5,46x
EV / Sales 2023 4,45x
Nbr of Employees 21 484
Free-Float 33,5%
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Technical analysis trends MINDTREE LIMITED
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 32
Last Close Price 3 585,20 INR
Average target price 4 628,97 INR
Spread / Average Target 29,1%
EPS Revisions
Managers and Directors
Debashis Chatterjee Chief Executive Officer, MD & Director
Vinit Teredesai Chief Financial Officer
Anil Kumar Manibhai Naik Non-Executive Chairman
Aan Chauhan Chief Technology Officer
Subhodh Shetty Secretary & Compliance Officer
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