INFO EDGE Surges by 6%; BSE IT Index Down 0.1%

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INFO EDGE Surges by 6%; BSE IT Index Down 0.1%
Fri, 24 Jan 03:02 PM

INFO EDGE share price has zoomed 6% and is presently trading at Rs 2,745.

Meanwhile, the BSE IT Index is at 16,252 (down 0.1%).

Among the top Gainers in the BSE IT Index today is INFO EDGE (up 6.0%).

CYIENT (down 0.1%) and FIRSTSOURCE SOL. (down 0.1%) are among the top losers today.

Over the last one year, INFO EDGE has moved up from Rs 1,727 to Rs 2,745, registering a gain of Rs 1,018 (up 58.6%).

On the other hand, the BSE IT has moved up from 14,644 to 16,252, registering a gain of 1,608 points (up 10.7%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were NIIT TECHNOLOGIES (up 52.5%), INFIBEAM AVENUES (up 35.2%) and PERSISTENT SYSTEMS (up 33.7%).

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What About the Benchmark Indices?

The BSE Sensex is at 41,697 (up 0.6%).

The top gainers among the BSE Sensex stocks today are ULTRATECH CEMENT (up 2.7%), L&T (up 2.5%) and KOTAK MAHINDRA BANK (up 2.1%). Other gainers include COAL INDIA (up 2.1%) and AXIS BANK (up 2.0%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 12,272 (up 0.7%). YES BANK (up 6.2%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,108 to 41,697, registering a gain of 5,589 points (up 15.4%).

INFO EDGE Financial Update...

INFO EDGE net profit down at Rs 93 million for the quarter ended September 2019, compared to a loss of Rs 743 million a year ago. Net Sales rose 12.6% to Rs 3.2 billion during the period as against Rs 2.8 billion in July-September 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 154.3x.

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