Info Edge (India) drops amid volatility after two block deals

Info Edge (India) lost 0.78% to Rs 299.95 at 14:41 IST on BSE after two deals aggregating 4.99 lakh shares were executed on BSE at Rs 300 per share at 13:43 IST.

One block deal was of 2.08 lakh shares while the other was of 2.91 lakh shares. The two block deals constitute 0.45% of Info Edge (India)'s equity.

Meanwhile, the S&P BSE Sensex was down 26.57 points or 0.14% at 18,374.47.

On BSE, 5.01 lakh shares were traded in the counter as against average daily volume of 53,447 shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.41% at the day's low of Rs 295 so far during the day. The stock rose as much as 0.89% at the day's high of Rs 305 so far during the day. The stock had hit a 52-week high of Rs 405.20 on 2 April 2013. The stock had hit a 52-week low of Rs 285 on 3 July 2013.

The stock had outperformed the market over the past one month till 29 August 2013, sliding 5.04% compared with the Sensex's 6.08% fall. The scrip had, however, underperformed the market in past one quarter, declining 12.59% as against Sensex's 8.67% fall.

The mid-cap company has equity capital of Rs 109.18 crore. Face value per share is Rs 10.

Info Edge (India)'s net profit declined 7.5% to Rs 29.41 crore on 13.9% growth in net sales to Rs 120.76 crore in Q1 June 2013 over Q1 June 2012.

Info Edge (India) is India's premier on-line classifieds company in recruitment, matrimony, real estate, education and related services.

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