Info Edge (India) stock has been gaining for the last 3 days and has risen 4.28% in the period. It rose to Rs. 1924.95, which is just 0.5% away from its 52-week high of Rs.1926.55.
The stock is up on news that that it has invested Rs.6 crore through its wholly-owned subsidiary in Bizcrum Infotech.
The company has acquired 60 lakh, 0.01% compulsorily convertible preference shares having face value of Rs 10 each.
The aggregate shareholding of the company, post this investment, in the said entity would be 29.79% on fully converted & diluted basis.