Mindtree shares tumbled 5% after Macquaries rating cut
This Q2, Mindtrees net profit declined by 37.13% year-on-year (yoy) to Rs 94.8 crore, while total income from operations was down by 10.07% yoy to Rs 1182.5 crore.
Shares of Mindtree dropped nearly 5% on Monday morning after Macquarie cut rating post earning.
The company's stock was trading at Rs 454.85 per share on NSE, sinking by Rs 24.15 or 5.04% at 10.25 am.
This Q2, Mindtree's net profit declined by 37.13% year-on-year (yoy) to Rs 94.8 crore, while total income from operations was down by 10.07% yoy to Rs 1182.5 crore.
Macquarie has cut Mindtree's rating to 'underperform' from earlier rating of 'neutral'.
In one year, the shares of Mindtree have fallen nearly 42%.
Source: Investing.com
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