L&T Infotech shares drop 4.53% as Sensex rises

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Shares of Larsen & Toubro Infotech Ltd. traded 4.53 per cent lower in Tuesday’s session at 01:43PM (IST). The stock opened at Rs 5979.75 and has touched an intraday high and low of Rs 5979.75 and Rs 5493.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 7595.25 and a 52-week low of 3525.95. About 25,124 shares changed hands on the counter so far.

Benchmark Nifty50 was up 74.8 points at 17248.45, while the BSE Sensex traded 198.52 points higher at 57365.26 at the time of writing of this report.

In the Nifty pack, 31 stocks traded the day in the green, while 18 were in the red.

Key Financials

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 year-ago quarter. The company reported net profit of Rs 612.0 crore for the latest quarter.


Promoter Holdings

Promoters held 74.05 per cent stake in the company as of 31-Mar-2022, while FIIs held 10.08 per cent and MFs 5.65 per cent.

Technicals

On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 5968.59 on April 19, while the 50-DMA was at Rs 6082.34. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.



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