INFO EDGE Plunges by 6%; BSE IT Index Up 0.6%

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INFO EDGE Plunges by 6%; BSE IT Index Up 0.6%
Wed, 4 Dec 01:04 PM

INFO EDGE share price has plunged 6% and is presently trading at Rs 2,556.

Meanwhile, the BSE IT Index is at 14,974 (up 0.6%).

Among the top losers in the BSE IT Index today is INFO EDGE (down 6.3%).

MINDTREE (up 3.5%) and MPHASIS (up 2.2%) are among the top gainers today.

Over the last one year, INFO EDGE has moved up from Rs 1,614 to Rs 2,556, registering a gain of Rs 942 (up 58.3%)..

The BSE IT has moved up from 14,384 to 14,974, registering a gain of 590 points (up 4.1%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were NIIT TECHNOLOGIES (up 32.1%), PERSISTENT SYSTEMS (up 12.1%) and HCL TECHNOLOGIES (up 10.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 40,790 (down 0.3%). The top gainers among the BSE Sensex stocks today are TATA MOTORS (up 4.2%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 12,026 (down 0.4%). TATA MOTORS (up 4.4%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,241 to 40,790, registering a gain of 4,549 points (up 11.9%).

INFO EDGE Financial Update...

INFO EDGE net profit down at Rs 667 million for the quarter ended June 2019, compared to a loss of Rs 743 million a year ago. Net Sales rose 11.3% to Rs 3.1 billion during the period as against Rs 2.8 billion in April-June 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 102.1x.

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INFO EDGE share price has surged by 5% and its current market price is Rs 2,658. The BSE IT is up by 1.7%. The top gainers in the BSE IT Index are INFO EDGE (up 5.3%) and FIRSTSOURCE SOL. (up 5.2%). The top losers is ECLERX SERVICES (down 2.2%).

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