The Board of Info Edge (India) on 10 November 2020 has given its due approbal to the Scheme of amalgamation of Highorbit Careers Private Limited into and with Info Edge (India) Limited.

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Shares of Info Edge have surged 11.8% in six trading days from its previous closing low of Rs 3535.50 on 10 November 2020. The counter hit a record high of Rs 3988 in intraday today. The stock is up 150% from its 52-week low of Rs 1,580 registered on 23 March 2020.

On the technical front, the stock's RSI (relative strength index) stood at 68.740. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 3549.77 and 3361.07 respectively. These levels will act as crucial support zones in near term.

The company reported 78.7% jump in standalone net profit to Rs 51.15 crore on a 19.1% fall in net sales to Rs 256.12 crore in Q2 FY21 over Q2 FY20. Profit before tax in Q2 September 2020 stood at Rs 65.40 crore, up by 82.6% from Rs 35.82 crore in Q2 September 2019. Operating EBITDA fell 48.1% to Rs 51.6 crore in Q2 FY21 from Rs 99.3 crore in Q2 FY20.

Info Edge (India) runs leading internet businesses like Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. Info Edge has made significant strategic investments into emerging internet companies - zomato.com, meritnation.com, policybazaar.com, Canvera.com, happilyunmarried.com.

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Info Edge (India) Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 3897.2, up 0.33% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.42% on the day, quoting at 12834.55. The Sensex is at 43878.14, up 0.55%. Info Edge (India) Ltd has risen around 12.11% in last one month.

Meanwhile, Nifty IT index of which Info Edge (India) Ltd is a constituent, has risen around 0.56% in last one month and is currently quoting at 21552.75, down 0.19% on the day. The volume in the stock stood at 7.4 lakh shares today, compared to the daily average of 5.79 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 3898.75, up 0.66% on the day. Info Edge (India) Ltd is up 42.9% in last one year as compared to a 7.99% spurt in NIFTY and a 40.64% spurt in the Nifty IT index.

The PE of the stock is 173.19 based on TTM earnings ending September 20.

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Info Edge (India) Ltd is up for a third straight session in a row. The stock is quoting at Rs 3744.3, up 1.84% on the day as on 12:59 IST on the NSE. The benchmark NIFTY is down around 0.12% on the day, quoting at 12675.65. The Sensex is at 43283.62, down 0.17%. Info Edge (India) Ltd has risen around 0.1% in last one month.

Meanwhile, Nifty IT index of which Info Edge (India) Ltd is a constituent, has risen around 3.75% in last one month and is currently quoting at 21363.35, up 0.04% on the day. The volume in the stock stood at 3.53 lakh shares today, compared to the daily average of 6.13 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 3748.65, up 1.93% on the day. Info Edge (India) Ltd is up 43.43% in last one year as compared to a 6.77% spurt in NIFTY and a 38.87% spurt in the Nifty IT index.

The PE of the stock is 164.04 based on TTM earnings ending September 20.

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