INFO EDGE Plunges by 11%; BSE IT Index Down 3.3%

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INFO EDGE Plunges by 11%; BSE IT Index Down 3.3%
Thu, 19 Mar 10:10 AM

INFO EDGE share price has plunged 11% and is presently trading at Rs 1,918.

Meanwhile, the BSE IT Index is at 11,297 (down 3.3%).

Among the top losers in the BSE IT Index today are INFO EDGE (down 11.0%) and NIIT TECHNOLOGIES (down 17.8%).

Over the last one year, INFO EDGE has moved up from Rs 1,831 to Rs 1,918, registering a gain of Rs 87 (up 4.8%)..

The BSE IT has moved down from 14,985 to 11,297, loss of 3,688 points (down 24.6%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were [param_historic_top3].

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit

What About the Benchmark Indices?

The BSE Sensex is at 27,773 (down 6.1%). The top gainers among the BSE Sensex stocks today are POWER GRID (up 3.5%) and NTPC (up 0.7%). The most traded stocks in the BSE Sensex are NTPC and POWER GRID.

In the meantime, NSE Nifty is at 8,099 (down 5.8%). POWER GRID (up 3.3%) and NTPC (up 1.4%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,095 to 27,773, registering a loss of 10,322 points (down 28.87%).

INFO EDGE Financial Update...

INFO EDGE net profit stood at Rs 880 million for the quarter ended December 2019, compared to a profit of Rs 743 million a year ago. Net Sales rose 14.0% to Rs 3.2 billion during the period as against Rs 2.8 billion in October-December 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 93.5x.



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