Info Edge (India) fell 4.34% to Rs 4553.70, extending decline for the second day.
The stock has declined by 5.62% in two sessions from its recent closing high of Rs 4,824.70 recorded on 16 March 2021.
In the past one month, the stock has declined 14.08% while the benchmark Sensex has lost 3.43% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 36.115. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day and 100-day daily simple moving average (SMA) placed at 5005.13 and 4585.70, respectively. However, it has managed to trade above its 200-day SMA placed at 3886.49.
Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.
The company reported 22.7% decline in standalone net profit to Rs 69.87 crore on 15% fall in net sales to Rs 272.30 crore in Q3 FY21 over Q3 FY20.
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