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Info Edge, parent company of naukri.com, shares gained 2.4 per cent on Wednesday, logging an intraday high at Rs 7,889.55 per share on BSE. The stock gained after the company board approved stock split in 1:5 ratio.
Around 11:50 AM, Info Edge share price was up 2.05 per cent at Rs 7,861.85 per share on BSE. In comparison, the BSE Sensex was down 0.21 per cent at 78,417.49. The market capitalisation of the company stood at Rs 1,01,794.81 crore. The 52-week high of the stock was at Rs 9,194.95 per share and the 52-week low was at Rs 4,967.1 per share.
During a board meeting today, Info Edge's board approved stock split. As per the filing, stock split will be of the existing 1 equity share having face value of Rs 10, into 5 equity shares having face value of Rs 2 each.
"We wish to inform you that the board of directors of the company at their meeting held today i.e., on Wednesday, February 5, 2025, considered and approved sub-division/split of the existing 1 (one) equity share of the Company having face value of Rs. 10/- (Rupees Ten only) each fully paid- up, into 5 (five) equity shares having face value of Rs. 2/- (Rupees Two only) each," the filing read.
The record date for share split will be decided after taking approval of the shareholders. The stock split will enhance the liquidity of company's equity shares and to encourage participation of retail investors by making equity shares of the company more affordable, as per the filing.
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On January 30, 2025, the company had announced that its board will consider a stock split of the existing shares of the face value of Rs 10 each, fully paid-up. Other terms of the sub-division will be finalised in a board meeting on February 5.
In its Q3 update, Info Edge said that its standalone billings during the quarter ended December 31, 2024, grew 15.8 per cent to Rs 668.3 crore year-on-year (Y-o-Y) as compared to Rs 576.9 crore in the corresponding quarter of the previous year.
In the past one year, Info Edge shares have gained 43.8 per cent against Sensex's rise of 9.5 per cent.
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