INFO EDGE Plunges by 5%; BSE IT Index Up 1.2%

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INFO EDGE Plunges by 5%; BSE IT Index Up 1.2%
Fri, 31 May 02:52 PM

INFO EDGE share price has plunged 5% and is presently trading at Rs 2,284.

Meanwhile, the BSE IT Index is at 15,811 (up 1.2%).

Among the top losers in the BSE IT Index today are INFO EDGE (down 5.1%) and INFIBEAM AVENUES (down 7.8%).

TECH MAHINDRA (up 3.5%) and TCS (up 2.1%) are among the top gainers today.

Over the last one year, INFO EDGE has moved up from Rs 1,293 to Rs 2,284, registering a gain of Rs 991 (up 76.6%)..

The BSE IT has moved up from 13,352 to 15,811, registering a gain of 2,459 points (up 18.4%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were WIPRO (up 45.9%), L&T TECHONOLOGY (up 34.4%) and TCS (up 24.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 40,122 (down 0.3%). The top gainers among the BSE Sensex stocks today are ASIAN PAINTS (up 2.4%). The most traded stocks in the BSE Sensex are COAL INDIA and ONGC.

In the meantime, NSE Nifty is at 12,039 (down 0.3%). TECH MAHINDRA (up 3.3%) and ASIAN PAINTS (up 2.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 34,906 to 40,122, registering a gain of 5,216 points (up 13.7%).

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 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 88.5x.



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