India Info: Scrip wise

STOCK IN THE NEWS

The stock, which hit an all-time high of Rs 676 last week, has appreciated more than 40 per cent after the company inducted four top officials of CLSA, the country's largest foreign broking firm.

The inductions provided a major boost to the scrip, which jumped 43 per cent (Rs 191) in one week from Rs 445.85 on May 25 to Rs 637.15 on June 1.

The four executives "" CLSA's India Country Head H Nemkumar, Director of Sales Bharat Parajia and executives Vasudev Jagannath and Aniruddha Dange "" have the right to buy 9 million shares at Rs 440 a piece.

The company hired the executives to help grow its investment banking, institutional equities and asset management businesses.

The combined turnover on the BSE and the NSE crossed more than Rs 100 crore in one week. The stock has reported a combined turnover of Rs 150.68 crore in the past week against Rs 4.46 crore turnover in the earlier week. India Infoline offers services ranging from equity and commodity trading to research and owns and manages an online trading website.

India Infoline, in which Citigroup, Merrill Lynch & Co and Franklin Templeton Investment Funds have bought stakes, reported a net profit growth of 97 per cent to Rs 52.12 crore in the year ended March 2007 from Rs 26.46 crore in FY06. Operating income swelled 491.5 per cent to Rs 286.72 crore in FY07 from Rs 48.47 crore in FY06.