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Info Edge Plunges 3%; BSE IT Index Up 0.8%
Tue, 2 Jul 9:37

Info Edge Plunges 3%; BSE IT Index Up 0.8%Image source: KanawatTH/www.istockphoto.com

Info Edge share price has plunged 3% and is presently trading at Rs 6,744.4.

Meanwhile, the BSE IT index is at 37,923.3 (up 0.8%).

Among the top losers in the BSE IT index today are PERSISTENT SYSTEMS (down 1.1%) and Birlasoft (down 0.8%).

INTELLECT DESIGN (up 2.6%) and Firstsource Solutions (up 2.2%) are among the top gainers today.

Over the last one year, Info Edge has moved up from Rs 4,428.1 to Rs 6,744.4, registering a gain of Rs 2,316.4 (up 52.3%).

On the other hand, the BSE IT index has moved up from 29,192.0 to 37,923.3, registering a gain of 29.9% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 166.6%), Birlasoft (up 102.5%) and ZENSAR TECHNOLOGIES (up 97.3%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,512.8 .

The top gainers among the BSE Sensex today are Infosys (up 1.1%) and HCl Tech. (up 0.9%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,133.3 . HDFC LIFE INSURANCE and Tata Motors are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,915.4 to 79,512.8, registering a gain of 15,597.4 points (up 24.4%).

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 120.3.


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