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Info Edge Shares Surge 8% On Healthy Outlook

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This year, Info Edge, one of India's oldest internet companies, has put a lot of money into startups. So far in 2021, the organization managed by Sanjeev Bikhchandani has invested in 15 startups.

 

So far in 2021, Info Edge has invested in rounds totaling $161.7 million. The majority of these investments were made in early-stage enterprises from a variety of industries.

Info Edge Shares Surge 8% On Healthy Outlook

On Wednesday, shares of Info Edge (India) rose 8% on the BSE in intra-day trade to a new high of Rs 6,681 on the back of a robust growth outlook. The stock reached a new high of Rs 6,299.80 on September 2, 2021, surpassing its previous high of Rs 6,299.80.

Through its web portals Naukri.com, Jeevansathi.com, 99 acres.com, and shiksha.com, as well as its offline portal Quadrangle.com, the company primarily provides online and offline services.

With a target price of Rs 8040, ICICI Securities has issued a buy call on Info Edge.It is currently trading at Rs 6530.5. When the price of Info Edge (India) Ltd. reaches the set target, the analyst estimates it will take one year.

 

According to Info Edge, the increasing opening up of economies will gradually boost demand. It anticipates a faster absorption of internet-based operations in the post-COVID-19 environment in the domains where it operates. As a result, as the COVID-19 issue fades, it is ready to take advantage of the next wave of market prospects.

It currently has a market capitalization of Rs 85755.41 crore. The company reported gross sales of Rs. 10985.97 crores and total income of Rs. 12173.68 crores in the most recent quarter.

INFO EDGE (INDIA) LTD FUNDAMENTALS
ParameterValues
Market Cap (Rs. in Cr.)85755.41
Earning Per Share (EPS TTM) (Rs.)22.42
Price To Earnings (P/E) Ratio297.07
Book Value Per Share (Rs.)342.38
Price/Book (MRQ)19.45
Price/Earning (TTM)258.69
ROCE (%)10.13
PAT Margin24.66
Dividend Yield0.12
Face Value10

Read more about: info edge policybazaar
Story first published: Wednesday, September 8, 2021, 12:16 [IST]
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