Info Edge (India) fell 1.96% to Rs 5392.75 as the counter witnessed some bit of profit taking after a recent steep surge.
The stock gained 15.72% in two sessions to end at Rs 5,500.80 yesterday, from its recent closing of Rs 4,753.70 recorded on 1 January 2021.
In the past six months, the scrip has zoomed 93.57% while the benchmark Sensex has added 32.70% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 77.591. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50-day, 100-day and 100-day daily simple moving average placed at 4208.37, 3819.21 and 3249.88, respectively. These levels will act as crucial support zones in near term.
The company reported 78.7% jump in standalone net profit to Rs 51.15 crore on a 19.1% fall in net sales to Rs 256.12 crore in Q2 FY21 over Q2 FY20.
Info Edge (India) runs leading internet businesses like Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. Info Edge has made significant strategic investments into emerging internet companies - zomato.com, meritnation.com, policybazaar.com, Canvera.com, happilyunmarried.com.
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