Info Edge (India) Ltd Share Performance: Shares of Info Edge Ltd came into focus today. The reason behind this rally in stocks is good news. It is known that this rise in the stocks has been seen after a business update given by the company.
Info Edge (India) Ltd Share Performance: Shares of Info Edge Ltd came into focus today. Shares of the company hit an all-time high today. Shares of InfoAge rose nearly 10 percent to touch a 52-week high of Rs 6,234.95 on BSE. The reason behind this rally in stocks is good news. It is known that this rise in the stocks has been seen after a business update given by the company.
In an exchange filing, InfoAge said standalone billings stood at Rs 826.9 crore for the quarter ending March 31, 2024, up 10.45 percent on a year-on-year (YoY) basis from Rs 748.6 crore in the March 2023 quarter. Recruitment solutions billings rose 7.18 percent to Rs 625.4 crore in the March quarter. It stood at Rs 583.5 crore in the March 2023 quarter.
In the March quarter, real estate company 99Acre’s billing stood at Rs 131.1 crore with an increase of 26.42 percent. It stood at Rs 103.7 crore in the March 2023 quarter. On a stand-alone basis, the company’s billings have increased by 5.47 percent to Rs 2,495.9 crore in the last financial year. In the financial year 2022-23 it was Rs 2366.3 crore.
What do the experts say?
InfoAgen has updated the stock from sell to buy rating with a target price of Rs 6650. Earlier its target price was Rs 5150. Nomura has maintained a buy tag with a target price of Rs 6210 on Info Edge. Last week, home-grown brokerage firm ICICI Securities gave a buy call on the stock with a target price of Rs 6993 on InfoAge (India). It should be mentioned here that the Info Edge IPO was launched at Rs 290 to Rs 320 per share. The company’s shares were listed on 27 April 2006.
(Disclaimer: Here is only information on stock performance. This is not investment advice. Investing in share market is subject to risk and should definitely consult your advisor before investing)