Curated By: Business Desk
Last Updated: October 11, 2023, 20:41 IST
The stock has gained nearly 25 percent in the past one week
Infibeam Avenues stocks hit a fresh 52-week high of Rs 23 on Wednesday before closing 3% lower at Rs 21.62.
One of the golden rules of the share market is to buy a stock that gives the best returns at a cheap price. One such stock with high returns is Infibeam Avenues. Those who had invested in the stock have earned a good profit in the three months.
The investors in the fintech company have earned a profit of more than 40 percent in the past one month.
The stock opened higher on Wednesday and surged to a fresh 52-week high of Rs 23 on BSE. However, the shares of the company pared its gains and closed 2.88 percent lower at 21.62 apiece on BSE on Wednesday. The fintech stock closed 9 percent higher at Rs 22.25 apiece on BSE on Tuesday.
The stock has rallied in four out of five sessions since October 5. In the past one week the stock has gained more than 24 percent and over 40 percent in the last three months. The fintech stock has given a return of nearly 50 percent in the last one year. It’s market capitalisation currently stands at Rs 5,796 crore.
In the June quarter, the Infibeam Avenues generated a revenue worth Rs 745 crore, which is the highest revenue earned by the company in any quarter. Recently, it has seen a decline in its profit, from Rs 38 crore to Rs 25 crore.
Infibeam Avenues is a mid-cap stock. Mid-cap stocks are considered to be better in terms of their returns and security. This is a giant firm in the financial technology sector and has many financial businesses with enterprise software platforms, digital payment solutions and lending solutions. The company is not only present in India, but in other foreign countries as well. It also provides services to clients in Gulf countries and the United States. Infibeam also offers e-commerce marketplace infrastructure.
The company was founded in 2007 in Gandhinagar. As per the information available, the firm expects to earn Rs 150 crore net income in financial year 2023-24. There were reports that the company will be hiring tech talents for their upcoming Artificial Intelligence hub.
