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Info Edge Gains 2%; BSE IT Index Up 0.4%
Wed, 26 Jun 9:27

Info Edge Gains 2%; BSE IT Index Up 0.4%Image source: Ivcandy/www.istockphoto.com

Info Edge share price has zoomed 2% and is presently trading at Rs 6,673.0.

Meanwhile, the BSE IT index is at 36,495.9 (up 0.4%).

Among the top gainers in the BSE IT index today are Coforge (up 1.4%) and Birlasoft (up 1.2%).

ROUTE MOBILE (down 0.8%) and Mastek (down 0.2%) are among the top losers today.

Over the last one year, Info Edge has moved up from Rs 4,405.2 to Rs 6,673.0, registering a gain of Rs 2,267.8 (up 51.5%).

On the other hand, the BSE IT index has moved up from 28,891.5 to 36,495.9, registering a gain of 26.3% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 154.1%), Birlasoft (up 107.1%) and ZENSAR TECHNOLOGIES (up 98.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 78,104.2 (up 0.1%).

The top gainers among the BSE Sensex today are Ultratech Cement (up 1.5%) and ICICI Bank (up 1.4%). The most traded stocks in the BSE Sensex are Tata Steel and ICICI Bank.

In the meantime, NSE Nifty is at 23,703.8 (down 0.1%). APOLLO HOSPITALS and Hindalco are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 62,970.0 to 78,104.2, registering a gain of 15,134.2 points (up 24.0%).

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 119.0.

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