Mindtree Under Pressure, Hits New 52 Week Low

Shares of Mindtree were under stress on

20th Sept post the news report which
said that the two top-level executives
have resigned the mid-tier IT Company.
Mindtree shares price slipped as much
as 1 per cent to a new 52-week low of Rs
500 today. It is reported that two of its
executive Vice Presidents of the
company namely Radha R and
Veeraraghavan RK have quit the Bengaluru-based IT company.
Radha R was the head of the digital business group at Mindtree,
including Mobility, Digital, DAS and SaaS packages. She had the
responsibility to design and deliver broader digital solutions for
Mindtree's clients worldwide. Veeraraghavan RK was heading the
technology and media at Mindtree. For the past 13 years, he was
fervently involved in building the delivery organization at Mindtree.
Mindtree share price is down 0.42 per cent against 0.30 per cent
decline in Nifty. The stock is quoting at Rs. 503.80, opened at Rs.
502.00 against its previous closing at Rs. 505.25. Till now, the days
high and low can be seen at Rs. 507.65 and Rs. 500.00 respectively.
Around 10,57,335 shares exchanged hands with a traded value of
Rs. 5,304.97 lacs.
Mindtree shares have also been under pressure this month after the
company advised that that its revenue and margins in the

September quarter will decline steadily. According to the state made

by the company, Mindtree's dollar revenue had risen 1.8 per cent
sequentially in the June quarter, whereas its margins are observed
at 11.3 per cent. The company anticipates Q2 FY17 revenue to be
lower than the last quarter. The decline is expected because of
cross-currency movements, project cancellations and slower rampups in certain large clients across various verticals and continued
weakness in its UK-based subsidiary Bluefin,
Business at Bluefin Solutions, the UK-based firm acquired by
Mindtree for over Rs 400 crore in July 2015, will persist to be
uncertain for a few more months, the company reported. The
Bluefin business is hoped to report an EBITDA (operating) loss for
the quarter, it further added.
Mindtree is analyzed by Dynamic Levels as the top 500 performing
stocks for the June quarter among the 1700 stocks which are listed
on the NSE. India Glycols is fundamentally strong and is safe for
investment, as per Dynamic analysts. The 52 week high value of
Mindtree share price is seen at 804.50 on 4th March 16. The market
cap of the company amounts to Rs. 8485.02 (Cr) and has a book
value of Rs. 142.66. The stock volume spurted by more than 2.19
times, in the same manner on 19th the volume rose by more than
6.34 times.
For further details refer to Mindtree share price forecast.

Disclaimer
The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal
views of the research team. Users are advised to use the data for the purpose of information and rely on their own
judgment while making investment decision.
Dynamic Equities Pvt. Ltd - SEBI Investment Advisory Reg. No.: INA300002022

Disclosure
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Article Written by
Madhurima Chowdhury