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INFO EDGE at All Time High; BSE IT Index Up 0.1%

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INFO EDGE at All Time High; BSE IT Index Up 0.1%
Thu, 24 Jan 09:24 AM

INFO EDGE share price has hit an all-time high at Rs 1,784 (up 2.6%).

Meanwhile, the BSE IT Index is at 14,706 (up 0.1%).

Among the top gainers in the BSE IT Index today are INFO EDGE (up 2.6%) and TCS (up 0.1%).

FIRSTSOURCE SOL. (down 0.1%) and L&T INFOTECH LTD (down 0.2%) are among the top losers today.

Over the last one year, INFO EDGE has moved up from Rs 1,397 to Rs 1,784, registering a gain of Rs 386 (up 26.8%).

The BSE IT has moved up from 12,640 to 14,706, registering a gain of 2,066 points (up 16.0%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were L&T TECHONOLOGY SERVICES (up 63.1%), NIIT TECHNOLOGIES (up 61.9%) and L&T INFOTECH LTD (up 51.1%).

What About the Benchmark Indices?

The BSE Sensex is at 36,178 . The top gainers among the BSE Sensex stocks today are POWER GRID (up 1.5%), ITC LTD (up 1.1%) and ASIAN PAINTS (up 0.9%). Other gainers include NTPC (up 0.9%) and HERO MOTOCORP (up 0.7%). The most traded stocks in the BSE Sensex are YES BANK and ITC LTD.

In the meantime, NSE Nifty is at 10,849 (up 0.1%). The top gainers in the NSE Nifty include GRASIM IND. (up 1.4%), ITC LTD (up 1.2%) and POWER GRID (up 1.1%). Other gainers include ASIAN PAINTS (up 1.0%) and HCL TECH. (up 1.0%).

Over the last 12 months, the BSE Sensex has moved up from 36,140 to 36,178, registering a gain of 38 points .

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 119.2x.

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