Info Edge shares drop 1.9% as Sensex falls

Shares of Info Edge (India) Ltd. traded 1.9 per cent lower in Wednesday's session at 02:04PM (IST). The stock opened at Rs 4112.2 and has touched an intraday high and low of Rs 4112.2 and Rs 4003.25, respectively, during the session so far.

The stock quoted a 52-week high of Rs 4984.1 and a 52-week low of 3310.0. About 9,118 shares changed hands on the counter so far.

Benchmark Nifty50 was down 170.05 points at 19358.7, while the BSE Sensex traded 554.16 points lower at 64957.94 at the time of writing of this report.

In the Nifty pack, 6 stocks traded the day in the green, while 44 were in the red.


Key Financials
For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 689.54 crore, up 306.36 per cent from the previous quarter's Rs 169.69 crore and up 21.16 per cent from the year-ago quarter. The company reported net profit of Rs 158.6 crore for the latest quarter.

Promoter Holdings
Promoters held 38.05 per cent stake in the company as of 30-Jun-2023, while FIIs held 31.54 per cent and MFs 10.34 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 4025.08 on October 04, while the 50-DMA was at Rs 4411.65. 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.