Infibeam Incorporation surges 19.61% in six sessions

Infibeam Incorporation rose 3.65% to Rs 1,345.55 at 11:28 IST on BSE, with the stock extending recent gains.

Meanwhile, the S&P BSE Sensex was up 16.49 points, or 0.05% at 32,262.36. The S&P BSE Mid-Cap index was up 51.63 points, or 0.34% at 15,278.04.

On the BSE, 1.21 lakh shares were traded on the counter so far as against the average daily volumes of 1.51 lakh shares in the past one quarter. The stock had hit high of Rs 1,360 and a low of Rs 1,302.55 so far during the day. The stock had hit a record high of Rs 1,447.55 on 22 February 2017 and a 52-week low of Rs 657.50 on 27 July 2016.

 

The stock had outperformed the market over the past one month till 24 July 2017, advancing 25.55% compared with the Sensex's 3.56% rise. The scrip had also outperformed the market over the past one quarter gaining 18.21% as against the Sensex's 8.73% rise. The scrip had also outperformed the market over the past one year advancing 94.13% as against the Sensex's 15.98% rise.

The mid-cap company has equity capital of Rs 54.28 crore. Face value per share is Rs 10.

Shares of Infibeam Incorporation rose 19.61% in six trading sessions to its current market price of Rs 1,345.55, from a close of Rs 1,124.95 on 17 July 2017.

Recent media reports suggested that a consortium led by Intellect Design Arena and Infibeam Incorporation has emerged the lowest bidder to run the online platform from where the Government of India purchases goods and services. The five-year contract is estimated to be worth around Rs 1000 crore, reports suggested. Infibeam Incorporation is yet to issue a clarification to the stock exchanges with regard to aforesaid news item.

Infibeam Incorporation's consolidated net profit spurted 468.5% to Rs 13.53 crore on 61.2% growth in net sales to Rs 120.51 crore in Q4 March 2017 over Q4 March 2016.

Infibeam Incorporation is an e-commerce company, focused on developing successful e-commerce platforms and ecosystems.

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