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INFO EDGE at All Time High; BSE IT Index Down 0.8%

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INFO EDGE at All Time High; BSE IT Index Down 0.8%
Wed, 23 Jan 03:34 PM

INFO EDGE share price has hit an all-time high at Rs 1,745 (up 6.9%).

Meanwhile, the BSE IT Index is at 14,773 (down 0.8%).

Among the top gainers in the BSE IT Index today are INFO EDGE (up 6.9%) and ORACLE FINANCIAL SERVICES (up 2.2%).

L&T TECHONOLOGY SERVICES (down 0.2%) and TATA ELXSI (down 0.3%) are among the top losers today.

Over the last one year, INFO EDGE has moved up from Rs 1,411 to Rs 1,745, registering a gain of Rs 334 (up 23.3%).

The BSE IT has moved up from 12,490 to 14,773, registering a gain of 2,283 points (up 17.3%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were NIIT TECHNOLOGIES (up 66.2%), L&T TECHONOLOGY SERVICES (up 62.8%) and L&T INFOTECH LTD (up 56.3%).

What About the Benchmark Indices?

The BSE Sensex is at 36,521 (down 1.0%). The top gainers among the BSE Sensex stocks today are SUN PHARMA (up 2.8%), YES BANK (up 2.6%) and TATA STEEL (up 1.2%). Other gainers include VEDANTA LTD (up 0.8%) and HUL (up 0.6%). The most traded stocks in the BSE Sensex are YES BANK and SUN PHARMA.

In the meantime, NSE Nifty is at 10,945 (down 0.9%). The top gainers in the NSE Nifty include SUN PHARMA (up 2.7%), YES BANK (up 2.6%) and TATA STEEL (up 1.4%). Other gainers include WIPRO (up 1.3%) and ZEE ENTERTAINMENT (up 1.2%).

Over the last 12 months, the BSE Sensex has moved up from 35,798 to 36,521, registering a gain of 723 points (up 0.8%).

INFO EDGE Financial Update...

INFO EDGE net profit stood at Rs 781 million for the quarter ended September 2018, compared to a profit of Rs 533 million a year ago. Net Sales rose 16.7% to Rs 2.7 billion during the period as against Rs 2.3 billion in July-September 2017.

For the year ended March 2018, INFO EDGE reported 29.7% increase in net profit to Rs 2.3 billion compared to net profit of Rs 1.8 billion during FY17.

Revenue of the company grew 11.3% to Rs 10 billion during FY18.

The current Price to earnings ratio of INFO EDGE, based on rolling 12 month earnings, stands at 117.0x.

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