Info Edge shares drop 2.08% as Sensex rises

Shares of Info Edge (India) Ltd. traded 2.08 per cent lower in Monday's session at 11:27AM (IST). The stock opened at Rs 3546.35 and has touched an intraday high and low of Rs 3597.45 and Rs 3500.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 4912.9 and a 52-week low of 3314.0. About 5,409 shares changed hands on the counter so far.

Benchmark Nifty50 was up 8.15 points at 17952.35, while the BSE Sensex traded 97.77 points higher at 61100.34 at the time of writing of this report.

In the Nifty pack, 27 stocks traded the day in the green, while 23 were in the red.


Key Financials
For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 967.45 crore, up 33.11 per cent from the previous quarter's Rs 726.81 crore and up 81.21 per cent from the year-ago quarter. The company reported net loss of Rs 116.53 crore for the latest quarter.

Promoter Holdings
Promoters held 38.05 per cent stake in the company as of 31-Dec-2022, while FIIs held 31.88 per cent and MFs 10.27 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 3914.89 on February 20, while the 50-DMA was at Rs 3800.0. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.