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Info Edge Gains 5%; BSE IT Index Up 1.6%
Thu, 19 Sep 9:22

Info Edge Gains 5%; BSE IT Index Up 1.6%Image source: alexsl/www.istockphoto.com

Info Edge share price has zoomed 5% and is presently trading at Rs 7,885.0.

Meanwhile, the BSE IT index is at 43,332.4 (up 1.6%).

Among the top gainers in the BSE IT index today are Oracle Financial Services (up 4.5%) and Coforge (up 2.0%).

INFIBEAM AVENUES (down 0.9%) and INTELLECT DESIGN (down 0.5%) are among the top losers today.

Over the last one year, Info Edge has moved up from Rs 4,490.2 to Rs 7,885.0, registering a gain of Rs 3,394.8 (up 75.6%).

On the other hand, the BSE IT index has moved up from 33,207.2 to 43,332.4, registering a gain of 30.5% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 176.4%), Firstsource Solutions (up 83.4%) and PERSISTENT SYSTEMS (up 80.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 83,476.4 (up 0.6%).

The top gainers among the BSE Sensex today are NTPC (up 2.8%) and HCl Tech. (up 1.7%). The most traded stocks in the BSE Sensex are NTPC and Tata Steel.

In the meantime, NSE Nifty is at 25,549.7 (up 0.7%). LTIMINDTREE and Wipro are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 83,476.4, registering a gain of 15,879.5 points (up 23.5%).

Info Edge Financial Update...

Info Edge net profit grew 61.0% YoY to Rs 2,728 million for the quarter ended June 2024, compared to a profit of Rs 1,695 million a year ago. Net sales rose 8.1% to Rs 6,767 million during the period as against Rs 6,259 million in April-June 2023.

For the year ended March 2024, Info Edge reported 943.8% increase in net profit to Rs 5,946 million compared to net loss of Rs 705 million during FY23. Revenue of the company grew 8.1% to Rs 25,363 million during FY24.

The current Price to earnings ratio of Info Edge, based on rolling 12 month earnings, stands at 123.3.

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