Infibeam gains as board to evaluate growth opportunities

Infibeam Avenues rose 1.61% to Rs 47.40 at 15:09 IST on BSE after the company scheduled a board meeting on 17 December 2018 to consider strategic growth opportunities of the business verticals and subsidiaries of the company.

The announcement was made after market hours yesterday, 12 December 2018.

Meanwhile, the S&P BSE Sensex was up 167.95 points, or 0.47% to 35,947.02

On the BSE, 52.54 lakh shares were traded in the counter so far compared with average daily volumes of 29.38 lakh shares in the past two weeks. The stock had hit a high of Rs 50.50 and a low of Rs 45.35 so far during the day.

Infibeam Incorporation said that the company has scheduled a board meeting on 17 December 2018 to consider and approve examine and evaluate the feasibility of and options for strategic growth opportunities of the business verticals and subsidiaries of the company.

Infibeam Avenues reported net loss of Rs 4.53 crore in Q2 September 2018 as compared with net profit of Rs 1.06 crore in Q2 September 2017. Net sales rose 82.23% to Rs 134.38 crore in Q2 September 2018 over Q2 September 2017.

Infibeam is a leading e-Commerce enabler offering end-to-end e-Commerce services on the internet to small and large merchants, enterprises and government.

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