LTIMindtree shares drop 0.6% as Sensex falls

Shares of LTIMindtree Ltd. traded 0.6 per cent lower in Friday's session at 01:40PM (IST). The stock opened at Rs 5115.0 and has touched an intraday high and low of Rs 5115.0 and Rs 5009.05, respectively, during the session so far.

The stock quoted a 52-week high of Rs 5425.0 and a 52-week low of 4120.0. About 7,438 shares changed hands on the counter so far.

Benchmark Nifty50 was down 103.65 points at 19261.6, while the BSE Sensex traded 386.18 points lower at 64764.84 at the time of writing of this report.

In the Nifty pack, 13 stocks traded the day in the green, while 37 were in the red.


Key Financials
For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 8833.7 crore, up 0.87 per cent from the previous quarter's Rs 8757.4 crore and up 12.94 per cent from the year-ago quarter. The company reported net profit of Rs 1151.5 crore for the latest quarter.

Promoter Holdings
Promoters held 68.66 per cent stake in the company as of 30-Jun-2023, while FIIs held 8.21 per cent and MFs 7.01 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 4723.96 on August 18, while the 50-DMA was at Rs 5009.45. 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.