INFO EDGE Surges by 8%; BSE IT Index Up 1.2%

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INFO EDGE Surges by 8%; BSE IT Index Up 1.2%
Wed, 13 May 09:21 AM

INFO EDGE share price has zoomed 8% and is presently trading at Rs 2,725.

Meanwhile, the BSE IT Index is at 14,178 (up 1.2%).

Among the top Gainers in the BSE IT Index today are INFO EDGE (up 7.9%) and FIRSTSOURCE SOL. (up 7.3%).

MINDTREE (down 0.4%) and SONATA SOFTWARE (down 4.8%) are among the top losers today.

Over the last one year, INFO EDGE has moved up from Rs 1,923 to Rs 2,725, registering a gain of Rs 802 (up 41.7%).

On the other hand, the BSE IT has moved down from 15,519 to 14,178, loss of 1,341 points (down 9.9%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INFIBEAM AVENUES (up 36.0%), NIIT TECHNOLOGIES (up 20.2%) and HCL TECHNOLOGIES (up 1.2%).

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What About the Benchmark Indices?

The BSE Sensex is at 32,845 (up 3.9%).

The top gainers among the BSE Sensex stocks today are INDUSIND BANK (up 7.5%), SBI (up 7.3%) and ICICI BANK (up 7.2%). Other gainers include HDFC BANK (up 7.0%) and BAJAJ FINANCE (up 6.7%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,584 (up 2.7%). The top gainers in the NSE Nifty include VEDANTA LTD (up 10.0%), INDIABULLS HOU. FIN. (up 7.3%) and ICICI BANK (up 7.0%). Other gainers include MARUTI SUZUKI (up 6.3%) and AXIS BANK (up 5.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,091 to 32,845, registering a loss of 4,246 points (down 12.15%).

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 144.3x.

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