 "Infibeam Incorporation extends gain in a weak market")
Infibeam Incorporation has moved higher by 7% to Rs 1,136 on BSE in intra-day trade, also its highest level since listing in April this year, in otherwise weak market.
Since November 15, in past five trading sessions, the stock outperformed the market by 23% as compared to 3.6% decline in the S&P BSE Sensex. It appreciated 163% against its initial public offer (IPO) price of Rs 432 per share.
Infibeam is the e-commerce company focused on developing successful e-commerce platforms and ecosystems.
On Thursday, November 17, the company reported four-fold jump in consolidated net profit at Rs 13.6 crore for the second quarter ended September 30, 2016 (Q2FY17). It had profit of Rs 3.3 crore in the same quarter year ago. Total revenue grew 32% at Rs 115 crore over the previous year quarter.
The company has reported overall profit with growth attributed by strong growth of its service and product business segments.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved to 18.6% in Q2FY17 from 8.86% in Q2FY16. It was 16.39% in Q1FY17.
Analyst at KRChoksey Institutional believes that the Indian consumer market holds a huge opportunity in the E-commerce space as it constantly evolves towards an online marketplace.
“With the Government’s Digital India and Smart Cities project, we expect internet access, internet users and smart-phone penetration to increase at tremendous pace, eventually breaking technological barriers in Tier II & Tier III cities and Rural India. With increasing access to the internet, we expect the E-commerce market to increase drastically, thereby expanding the market pie and incumbents’ shares,” the brokerage firm said in a report.
At 02:21 pm, the stock was up 4.7% at Rs 1,109 on BSE, as compared to 1.2% decline in the S&P BSE Sensex. A combined 408,114 shares changed hands on the counter on BSE and NSE.
Since November 15, in past five trading sessions, the stock outperformed the market by 23% as compared to 3.6% decline in the S&P BSE Sensex. It appreciated 163% against its initial public offer (IPO) price of Rs 432 per share.
Infibeam is the e-commerce company focused on developing successful e-commerce platforms and ecosystems.
On Thursday, November 17, the company reported four-fold jump in consolidated net profit at Rs 13.6 crore for the second quarter ended September 30, 2016 (Q2FY17). It had profit of Rs 3.3 crore in the same quarter year ago. Total revenue grew 32% at Rs 115 crore over the previous year quarter.
The company has reported overall profit with growth attributed by strong growth of its service and product business segments.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved to 18.6% in Q2FY17 from 8.86% in Q2FY16. It was 16.39% in Q1FY17.
Analyst at KRChoksey Institutional believes that the Indian consumer market holds a huge opportunity in the E-commerce space as it constantly evolves towards an online marketplace.
“With the Government’s Digital India and Smart Cities project, we expect internet access, internet users and smart-phone penetration to increase at tremendous pace, eventually breaking technological barriers in Tier II & Tier III cities and Rural India. With increasing access to the internet, we expect the E-commerce market to increase drastically, thereby expanding the market pie and incumbents’ shares,” the brokerage firm said in a report.
At 02:21 pm, the stock was up 4.7% at Rs 1,109 on BSE, as compared to 1.2% decline in the S&P BSE Sensex. A combined 408,114 shares changed hands on the counter on BSE and NSE.
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