L&T Infotech shares gain 1.22% as Sensex rises

Shares of Larsen & Toubro Infotech Ltd. traded 1.22 per cent higher in Thursday's session at 10:51AM (IST). The stock opened at Rs 4587.8 and has touched an intraday high and low of Rs 4677.9 and Rs 4587.8, respectively, during the session so far.

The stock quoted a 52-week high of Rs 7595.25 and a 52-week low of 3733.25. About 4,035 shares changed hands on the counter so far.

Benchmark Nifty50 was up 118.05 points at 17392.35, while the BSE Sensex traded 391.15 points higher at 58456.62 at the time of writing of this report.

In the Nifty pack, 35 stocks traded the day in the green, while 15 were in the red.


Key Financials
For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 4666.9 crore, up 5.21 per cent from the previous quarter's Rs 4435.6 crore and up 30.21 per cent from the year-ago quarter. The company reported net profit of Rs 633.5 crore for the latest quarter.

Promoter Holdings
Promoters held 74.03 per cent stake in the company as of 30-Jun-2022, while FIIs held 8.42 per cent and MFs 5.09 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 5243.79 on October 06, while the 50-DMA was at Rs 4628.4. 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.