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    MINDTREE   INE018I01017

MINDTREE LIMITED

(MINDTREE)
  Report
Delayed Quote. Delayed NSE India Stock Exchange - 09/20 07:14:08 am
4124.25 INR   -1.43%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Mindtree : Banks weigh on Indian shares, investors await Infosys earnings

07/14/2021 | 01:38am EDT

BENGALURU, July 14 (Reuters) - Indian shares fell on Wednesday as losses in banking stocks outweighed gains in information technology (IT) companies, while investors awaited IT major Infosys' results due later in the day.

As of 0450 GMT, the blue-chip NSE Nifty 50 index and the benchmark S&P BSE Sensex were down 0.16% and 0.17% at 15,786.40 and 52,681.65 points, respectively.

"Markets are down mainly on the back of profit booking today because investors are unable to find any strong triggers considering results season is still at its nascent stage," said Siddharth Sedani, head of equity advisory at Anand Rathi Financial Services in Mumbai.

"The second largest IT company (Infosys) could provide a fresh positive trigger."

Sedani also said markets were likely to take positive cues from the pick up in monsoons, which helps sectors such as agriculture and agrochemicals.

India's monsoon has splashed back to life after a lull, lifting the threat of a slowdown in planting crucial summer crops.

Sentiment was also dampened by a fall in Asian shares as global markets were spooked after the biggest jump in U.S. inflation in 13 years, which stoked concerns about the Federal Reserve exiting pandemic-era stimulus earlier than previously thought.

In Mumbai trading, the Nifty Bank index which closed 1.35% higher in the previous session, was down 0.5%, while the Nifty IT index was up 1.78%.

Shares of IT services company MindTree hit record levels after it reported a jump in consolidated net profit for the June quarter. Larger rival Infosys was up 0.8%, ahead of first-quarter results due later in the day, with analysts expecting a rise in profit.

On Tuesday, S&P Global Ratings kept India's sovereign rating unchanged at the lowest investment grade of 'BBB-', and said recovery from the current economic slowdown depended on the government's ability to bring in reforms that spur investment and create jobs.

(Reporting by Shivani Singh in Bengaluru; editing by Vinay Dwivedi)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
INFOSYS LIMITED -0.20% 1687.85 Delayed Quote.34.40%
MINDTREE LIMITED -1.43% 4124.25 Delayed Quote.148.40%
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08/10MINDTREE : Recognized with 2021 ISG Digital Case Study Award™
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Analyst Recommendations on MINDTREE LIMITED
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Financials
Sales 2022 96 863 M 1 315 M 1 315 M
Net income 2022 13 628 M 185 M 185 M
Net cash 2022 19 879 M 270 M 270 M
P/E ratio 2022 49,5x
Yield 2022 0,68%
Capitalization 680 B 9 228 M 9 230 M
EV / Sales 2022 6,81x
EV / Sales 2023 5,87x
Nbr of Employees 21 484
Free-Float 32,5%
Chart MINDTREE LIMITED
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Mindtree Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends MINDTREE LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Last Close Price 4 124,25 INR
Average target price 2 671,96 INR
Spread / Average Target -35,2%
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
Dayapatra Nevatia Chief Operating Officer & Executive Director
Sector and Competitors
1st jan.Capi. (M$)
MINDTREE LIMITED148.40%9 360
ACCENTURE PLC28.40%212 689
TATA CONSULTANCY SERVICES LTD.33.71%192 171
INTERNATIONAL BUSINESS MACHINES CORPORATION7.43%121 209
SNOWFLAKE INC.14.71%97 131
INFOSYS LIMITED34.68%96 186