MindTree reboots after block deal

MindTree rose 1.71% to Rs 670.60 at 11:04 IST on BSE after a block deal of 1.9 lakh shares was executed on BSE at Rs 665 per share at 9:52 IST. The block deal constitutes 0.46% of MindTree's equity capital. Meanwhile, the BSE Sensex was up 2.75 points or 0.01% at 18,520.09. On BSE, 2.04 lakh shares were traded in the counter as against average daily volume of 26,244 shares in the past one quarter. The stock hit a high of Rs 679.75 and a low of Rs 663 so far during the day. The stock had hit a 52-week high of Rs 761.95 on 12 September 2012. The stock had hit a 52-week low of Rs 371.70 on 1 February 2012. The stock had underperformed the market over the past one month till 22 November 2012, falling 1.9% compared with the Sensex's 1.47% slide. The scrip had also underperformed the market in the past one quarter, declining 2.09% as against Sensex's 3.76% rise. The small-cap IT company has equity capital of Rs 41.10 crore. Face value per share is Rs 10. MindTree's net profit fell 19% to Rs 72.20 crore on 6% growth in sales to Rs 596.30 crore in Q2 September 2012 over Q1 June 2012. MindTree is a global IT and Product Engineering Services Company, with deep knowledge in specific domains.