INFO EDGE Plunges by 5%; BSE IT Index Up 1.1%

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INFO EDGE Plunges by 5%; BSE IT Index Up 1.1%
Fri, 23 Aug 03:26 PM

INFO EDGE share price has plunged 5% and is presently trading at Rs 2,019.

Meanwhile, the BSE IT Index is at 16,048 (up 1.1%).

Among the top losers in the BSE IT Index today are INFO EDGE (down 5.4%) and PERSISTENT SYSTEMS (down 5.3%).

TATA ELXSI (up 7.2%) and ORACLE FINANCIAL (up 4.2%) are among the top gainers today.

Over the last one year, INFO EDGE has moved up from Rs 1,609 to Rs 2,019, registering a gain of Rs 410 (up 25.5%)..

The BSE IT has moved up from 15,144 to 16,048, registering a gain of 904 points (up 6.0%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were WIPRO (up 16.1%), INFOSYS (up 14.9%) and TCS (up 10.2%).

What About the Benchmark Indices?

The BSE Sensex is at 36,807 (up 0.6%). The top gainers among the BSE Sensex stocks today are VEDANTA LTD (up 6.5%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 10,863 (up 0.9%). ZEE ENTERTAINMENT (up 6.3%) and VEDANTA LTD (up 5.7%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 38,337 to 36,807, registering a gain of -1,530 points (up -4.3%).

INFO EDGE Financial Update...

INFO EDGE net profit down at Rs 663 million for the quarter ended March 2019, compared to a loss of Rs 743 million a year ago. Net Sales rose 4.1% to Rs 2.9 billion during the period as against Rs 2.8 billion in January-March 2018.

For the year ended March 2019, INFO EDGE reported 22.8% increase in net profit to Rs 2.9 billion compared to net profit of Rs 2.3 billion during FY18.

Revenue of the company grew 16.5% to Rs 12 billion during FY19.

The current Price to earnings ratio of INFO EDGE, based on rolling 12 month earnings, stands at 84.0x.

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