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Info Edge Gains 5%; BSE IT Index Down 1.3%
Fri, 2 Aug 10:41

Info Edge Gains 5%; BSE IT Index Down 1.3%Image source: Chunumunu/www.istockphoto.com

Info Edge share price has zoomed 5% and is presently trading at Rs 7,240.0.

Meanwhile, the BSE IT index is at 40,952.2 (down 1.3%).

Among the top gainers in the BSE IT index today is KPIT TECHNOLOGIES (up 0.8%).

Birlasoft (down 3.5%) and Coforge (down 2.5%) are among the top losers today.

Over the last one year, Info Edge has moved up from Rs 4,586.2 to Rs 7,240.0, registering a gain of Rs 2,653.8 (up 57.9%).

On the other hand, the BSE IT index has moved up from 30,276.6 to 40,952.2, registering a gain of 35.3% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 175.9%), Firstsource Solutions (up 106.4%) and INFIBEAM AVENUES (up 100.5%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,071.9 (down 1.0%).

The top losers among the BSE Sensex today are Tata Motors (down 3.7%) and Maruti Suzuki (down 3.6%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,803.7 (down 0.8%). Tata Motors and Maruti Suzuki are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,527.7 to 81,071.9, registering a gain of 14,544.3 points (up 21.9%).

Info Edge Financial Update...

Info Edge net profit grew 124.2% YoY to Rs 1,029 million for the quarter ended March 2024, compared to a loss of Rs 4,250 million a year ago. Net sales rose 8.7% to Rs 6,574 million during the period as against Rs 6,048 million in January-March 2023.

For the year ended March 2023, Info Edge reported 100.5% decrease in net profit to Rs -705 million compared to net profit of Rs 128,822 million during FY22. Revenue of the company grew 47.6% to Rs 23,457 million during FY23.

The current Price to earnings ratio of Info Edge, based on rolling 12 month earnings, stands at 129.1.

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