Info Edge (India) jumps after making additional investment in Zomato

Info Edge (India) rose 4.10% to Rs 835 at 15:16 IST on BSE after the company said it made additional investment in online restaurant guide Zomato.

The announcement was made at the fag end of the trading session on Friday, 10 April 2015. Shares of Info Edge (India) fell 0.81% to Rs 802.10 on that day.

Meanwhile, the BSE Sensex was up 177.62 points, or 0.62%, to 29,057.

On BSE, so far 20,000 shares were traded in the counter, compared with an average volume of 13,418 shares in the past one quarter.

The stock hit a high of Rs 836 and a low of Rs 805 so far during the day. The stock hit a record high of Rs 1,014.70 on 19 November 2014. The stock hit a 52-week low of Rs 519 on 16 May 2014.

The stock had underperformed the market over the past one month till 10 April 2015, falling 7.39% compared with 0.59% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.21% as against Sensex's 5.18% rise.

The large-cap company has an equity capital of Rs 120.22 crore. Face value per share is Rs 10.

Info Edge (India), through its wholly-owned subsidiary, has invested an amount of about Rs 155 crore in Zomato, being Info Edge's proportionate share of Zomato's recent fund raise of $50 million, Info Edge said in a statement.

Upon completion of the allotment of shares against the said investment, aggregate amount of investment in Zomato will be about Rs 484 crore. Info Edge along with its wholly-owned subsidiary will continue to hold, on a fully converted and diluted basis, 50.1% of Zomato, the company added.

Zomato Media owns and operates the restaurant search mobile application and website by the name of Zomato.

Net profit of Info Edge (India) rose 19.93% to Rs 38.64 crore on 18.15% rise in net sales to Rs 145.75 crore in Q3 December 2014 over Q3 December 2013.

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

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