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Mindtree shares rise ahead of September quarter earnings

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Mindtree shares climbed up on Wednesday as the IT company was due to post its quarterly financial results later in the day.

Mindtree shares rise ahead of September quarter earnings
Mindtree shares climbed up on Wednesday as the IT company was due to post its quarterly financial results later in the day. Mindtree and most other IT stocks rose as analysts keenly awaited the earnings reports for the July-September period. Infosys and Wipro will also report their earnings later in the day.
Mindtree shares were up as much as 1.6 percent at Rs 4,335 earlier on Wednesday while the Sensex was up 0.7 percent.
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The stock price came within Rs 400 of a 52-week high recorded on September 24.
Analysts in a CNBC-TV18 poll expect Mindtree to report a net profit of Rs 358 crore over revenue of Rs 2,500 crore, and a margin of 17.4 percent.
Tata Consultancy Services (TCS) shares were trading flat. Last week, India's largest IT services provider TCS kicked off the earnings season. Its financial performance in Q2 fell short of Street expectations.
Here's how the Mindtree shares have fared in the past year:
Mindtree share performance historical data
Mindtree shares have rewarded investors with a return of 171 percent in the past year.
In the past six months alone, Mindtree shares have risen nearly 110 percent in value.
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