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Infibeam Avenues share on Monday jumped 15.84 per cent and closed at Rs 18.65, 2.55 points up from the Friday’s closing. The 52 week high and 52 week low of the share is Rs 20.35 and Rs 12.85 respectively.
As per the NSE’s filing, the traded volume of share was at 20,53,18,012 and the traded value value in Lakhs was at 36,977.77.
Over the past week, this small-cap stock has delivered remarkable returns of 22 per cent to its investors, and over the last two weeks, it has provided an impressive 30 per cent return. Over the course of the last year, the stock has shown gains of 10.33 per cent. However, when considering a more extended time frame, the performance of Infibeam Avenues stock has yielded negative returns.
In its first-quarter results for 2023, the company achieved its highest-ever quarterly Gross Revenue of INR 742 crore in Q1 FY24, marking an impressive 77 per cent year-on-year increase. Furthermore, the company reported its highest-ever quarterly adjusted EBITDA3 of INR 56 crore, reflecting a substantial 31 per cent year-on-year growth.
According to the company’s filing, adjusted Profit After Tax reached Rs 32 crore, representing a robust 40 per cent year-on-year increase.
The company’s report also highlighted a significant milestone, with the number of merchants exceeding 10.0 million in the first quarter, surpassing the FY24 target well in advance. Additionally, the company is poised to venture into the realm of Artificial Intelligence (AI) by establishing an AI HUB at GIFT City.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said that the stock has displayed a significant bullish candle formation on the daily chart. This breakout from the triangular pattern enhances the bullish bias, indicating the potential for further upward movement in the days ahead. According to Lilladher, near-term target for Infibeam Avenues Around 20.50 Levels, Strong RSI Signals Significant Upside Potential with Support at 17 Zone.
