Share price of LTIMindtree rises as Nifty strengthens

Shares of LTIMindtree Ltd. gained 0.42 per cent to Rs 5519.5 in Friday's trade as of 11:01AM (IST). The stock hit a high price of Rs 5548.8 and low of Rs 5511.95 during the session.

The return on equity (ROE) for the stock stood at 27.36 per cent. Traded volume on the counter stood at 11:01AM shares and turnover at Rs 139.0 crore around that time. The stock of LTIMindtree Ltd. quoted a 52-week high price of Rs 5590.0 and 52-week low prices of Rs 4120.0, respectively.

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

Promotor/FII Holding
Promoters held 68.66 per cent stake in the company as of 30-Jun-2023, while foreign investors held 8.21 per cent and domestic institutional investors had 7.01 per cent.

Key Financials
The company reported consolidated sales of Rs 8833.7 crore for the quarter ended 30-Jun-2023, up 0.87 per cent from previous quarter's Rs 8757.4 crore and up 12.94 per cent from the year-ago quarter's Rs 7821.8 crore. Net profit after tax for the latest quarter stood at Rs 1151.5 crore, up 4.15 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.