Mindtree advances after introducing new IT service

Mindtree rose 1.86% to Rs 528.90 at 11:45 IST on BSE after the company said that it has introduced Mindtree Integrated Services.

The announcement was made after market hours yesterday, 21 June 2017.

Meanwhile, the S&P BSE Sensex was up 207.85 points, or 0.66%, to 31,491.49. The S&P BSE Mid-Cap index was up 81.97 points, or 0.55%, to 14,932.71.

On the BSE, 7,916 shares were traded in the counter so far, compared with average daily volume of 53,649 shares in the past one quarter. The stock had hit a high of Rs 529.95 and a low of Rs 519 so far during the day. The stock had hit a 52-week high of Rs 681.50 on 5 July 2016. The stock had hit a 52-week low of Rs 400 on 9 November 2016.

The stock had outperformed the market over the past one month till 21 June 2017, gaining 4.47% compared with 2.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.41% as against Sensex's 6.1% gains. The scrip had, however, underperformed the market in past one year, dropping 20.76% as against Sensex's 16.67% gains.

The mid-cap company has equity capital of Rs 168.03 crore. Face value per share is Rs 10.

Mindtree said that the service combines next-practice methods and tools to tightly integrate infrastructure and applications into a unified foundation that provides up to 30% cost savings from traditional operating models.

Integrated Services is powered by Mindtree CAPE, a customizable plug-and-play platform that integrates the enterprise technology landscape and accelerates the automation journey. It is equipped with converged capabilities of DevOps and Agile along with technologies like robotic process automation and cognitive computing.

Mindtree had announced on 19 June 2017 that its company, Magnet 360 announced the release of ConsumerConnect 36, a Salesforce Fullforce Solution Accelerator for consumer goods brands.

Mindtree's consolidated net profit fell 5.72% to Rs 97.20 crore on 1.76% rise in net sales to Rs 1318.10 crore in Q4 March 2017 over Q3 December 2016.

Mindtree delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition.

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