Shares of LTIMindtree rise as Nifty drops

Shares of LTIMindtree Ltd. gained 0.13 per cent to Rs 5261.45 in Wednesday's trade as of 12:46PM (IST). It hit a high of Rs 5425.0 and low of Rs 5225.0 during the session.

The stock quoted a 52-week high price of Rs 5425.0 and a low of Rs 3834.0. The return on equity for the stock stood at 27.36 per cent. About 42,045 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.59.

The scrip has been an outperformer, up 32.84 per cent in the past one year in comparison with a 23.35 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 3834.0 on July 05, while the 50-DMA was at Rs 4834.65. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 68.68 per cent stake in LTIMindtree Ltd. as of 31-Mar-2023. Mutual funds and foreign institutional investors held 6.82 per cent and 8.41 per cent stake.