Stock market today: Large-cap stock Info Edge announced on Thursday, January 30 that its board will meet next week to consider the financial results for the quarter ended December 2024 and a stock split. If approved, it would be the first stock split by the company, shows Trendlyne data.
The meeting is scheduled to take place on Wednesday, February 5.
“In continuation to our letter dated January 16, 2025, under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing that a meeting of the Board of Directors is scheduled to be held on Wednesday, February 05, 2025, to, inter alia, consider and approve the unaudited Standalone & Consolidated Financial Results for the Quarter and Nine months ended December 31, 2024,” Info Edge informed bourses in a filing today.
It further added, “We hereby inform you that at the said Meeting, the Board of Directors will also consider the proposal for alteration in the share capital of the Company by way of sub-division/split of the existing Equity Shares of the face value Rs. 10/- each, fully paid-up, in such manner as may be determined by the Board of Directors, subject to approval of the shareholders of the Company and any regulatory/statutory approvals, as may be required under applicable law.”
Info Edge Stock Impact
Following the intimation of the earnings date and the proposal to consider a stock split, shares of Info Edge gained in intra-day trade today. Info Edge share price gained as much as 2.77% to the day’s high of ₹7654.75 apiece. The BSE 100 stock was last trading at ₹7545.70, up 1.31% around 11.45 am.
The stock has performed well in the past year, rising 54% during this time, while in the last six months, it has gained 8%. However, amid the recent stock market rout, Info Edge stock has lost 11.5% in the past one month.
Info Edge Q2 Performance
Info Edge reported a 59% drop in its standalone net profit, which fell to ₹86 crore for the quarter ending September 2024, compared to ₹208 crore in the same quarter last year.
However, the company’s revenue from operations grew by 11%, reaching ₹656 crore for the quarter, up from ₹593 crore in the same period last year.
