Info Edge (India) Ltd. , a prominent player in the Indian internet and technology space, recently witnessed a significant block trade on the National Stock Exchange (NSE). The transaction, involving a substantial number of shares, has caught the attention of market observers.

Block Trade Details

The block trade, executed on the NSE, involved approximately 603,677 shares of Info Edge (India) Ltd. The shares were traded at a price of Rs. 1,361.70 per share, resulting in a total transaction value of Rs. 82.20 crores.

Market Impact

Block trades of this magnitude often draw attention from investors and analysts alike, as they can sometimes indicate shifts in institutional holdings or significant investor interest. However, it's important to note that the specific reasons behind this particular trade and the identities of the involved parties have not been disclosed.

About Info Edge (India) Ltd.

Info Edge (India) Ltd. is a leading Indian pure play internet company, operating several online businesses including:

• Naukri.com
• Jeevansathi.com
• 99acres.com
• Shiksha.com

The company has also made strategic investments in various other internet start-ups.

While this block trade represents a notable market event, investors are advised to consider it in the broader context of the company's performance and market conditions. As always, it's crucial to conduct thorough research and consider multiple factors when making investment decisions.

Info Edge , the parent company of popular job portal Naukri.com, has come under scrutiny following a whistleblower complaint alleging policy violations by employees at its real estate division, 99acres. The company has taken swift action to address the situation, referring the matter to its Audit Committee and Board of Directors.

Investigation Underway

In response to the allegations, Info Edge has appointed a specialist law firm to conduct an independent investigation into the matter. This move demonstrates the company's commitment to transparency and corporate governance. As of now, Info Edge has stated that there is no material impact on its financial statements.

Stock Performance

The news has had a noticeable impact on Info Edge's stock performance. On Friday, the company's shares closed at Rs 1,363.40, down 0.62%. This recent decline is part of a broader trend, with the stock experiencing a significant drop of 22.00% year-to-date and 13.00% over the past year.

Technical Indicators

From a technical analysis perspective, the stock is currently trading below seven of its eight key moving averages, with bearish indicators prevailing. This suggests that investor sentiment remains cautious in light of recent developments.

Recent Financial Performance

Despite the current challenges, Info Edge's recent quarterly results show mixed performance:

While the company has shown strong year-on-year growth in both net profit and revenue, the sequential decline in profit raises questions about short-term performance trends.

As the investigation into the whistleblower complaint progresses, investors and stakeholders will be closely monitoring Info Edge for further updates and potential impacts on the company's operations and financial health.