Published on 21/04/2017 2:30:55 PM | Source: Dion Global Solutions Ltd

MindTree rises over 4% as operating profit beats estimates

Posted in Stock On The Move| #IT Sector #Stock On The Move #BSE #Mindtree

Shares of MindTree soared over 4 per cent on the Bombay Stock Exchange after IT major’s operating profit grew at a faster-than-expected rate of 7.4 per cent on quarter-on-quarter basis at Rs 187 crore.

However, its consolidated net profit dipped 26.8 per cent to Rs 97.20 crore during the quarter ended March 31, 2017, compared to Rs 132.70 crore in the same quarter last year.

Following the Q4, shares of the company gained as much as 4.23 per cent to hit intra-day high of Rs 461.00 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 452.35 against previous close price of Rs 442.25. In a similar fashion, stocks of company were trading 2.01 per cent higher at Rs 451.50 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 29,475.88, up 53.49 points or 0.18 per cent, at 11:02 hour.