On the technical charts, the 200-day moving average of the stock stood at Rs 3870.25.

JPMorgan has downgraded Vedanta to neutral from overweight, while maintaining its underweight stance on Hindustan Zinc and overweight rating on Hindalco. Citi has also downgraded AU Small Finance Bank to neutral, while Macquarie has retained its underperform rating on Info Edge. JPMorgan has slashed the 12-month target price for Vedanta to INR 280 from INR 350, while maintaining its underweight rating on Hindalco with a target price of INR 205, and retained its overweight rating on Hindalco with a target price of INR 490.

Milan Vaishnav of Gemstone Equity Research expects the Bank Nifty index to consolidate just below 44,000 levels and eventually break out higher.

Consumer Internet group InfoEdge has initiated a forensic audit of its portfolio company 4B Networks founded by Yadav for not disclosing details of financial transactions and related-party activities when asked for by the investor. In a stock exchange filing, InfoEdge said it hired Deloitte to conduct a forensic audit of the property-tech startup.

The stock quoted a 52-week high price of Rs 4624.35 and a 52-week low of Rs 3310.0.

The company said its subsidiary Allcheckdeals India Private Ltd's (AIPL) loan of Rs 280 crore to 4B Networks is fully impaired, indicating that the chances of recovering the loan amount are unlikely.

In a stock exchange filing, InfoEdge has said that it has appointed Deloitte to conduct the forensic audit into the affairs of the property-tech startup.

Info Edge said in a filing that it has sought details of financial transactions and more from 4B Networks, which the startup is contractually obligated to give, but has not.

As of 31-Mar-2023, promoters held 38.05 per cent stake in the company, while FIIs held 31.41 per cent and domestic institutional investors had 10.5 per cent.

Sharekhan is bullish on Info Edge (India) has recommended buy rating on the stock with a target price of Rs 4876 in its research report dated May 29, 2023.

A total of 5,677 shares changed hands on the counter till 10:10AM (IST)

A total of 8,405 shares changed hands on the counter till 02:08PM (IST)

HDFC Securities is bullish on Infoedge has recommended buy rating on the stock with a target price of Rs 5170 in its research report dated May 26, 2023.

Motilal Oswal recommended Neutral rating on Info Edge with a target price of Rs 4010 in its research report dated May 27, 2023.

JPMorgan has upgraded General Insurance Corporation to buy with a target price of Rs 230, stating that it foresees an improvement in the trend of combined ratio for next year. Goldman Sachs has maintained its sell rating on both Info Edge and BHEL, with a target price of Rs 3340 and Rs 34 respectively. However, it has kept its buy rating intact on Dabur India with a target price of Rs 600. CLSA has maintained its sell rating on Vodafone Idea with a target price of Rs 5.

InfoEdge said write-off was “following the principles of conservatism and prudence”, after taking into account the B2B startups continued cash burn and limited availability of cash.

Info Edge expects IT hiring to remain slow for at least 4-5 months, and hopes that it will recover in the second half of the fiscal.

Info Edge said Naukri India attained the milestone of having 1,25,000 unique customer. The business realized an ARPU (average revenue per user) of 1,10,000 during the FY23.

Info Edge has announced a final dividend of Rs 9 per share for the financial year 2022-23.

Revenue from operations increased 28% to Rs 605 crore for the period under review. The same stood at Rs 473 crore in the corresponding period of last year.

A total of 1,501 shares changed hands on the counter till 11:59AM (IST)

Mahindra and Mahindra (M&M) is expected to see healthy revenue growth in Q4 2022, driven by volumes and average selling price. However, lower tractor volumes in the mix will likely lead to margin contraction. Grasim Industries is expected to witness a decline in net profit by 50% due to year-on-year volume decline in VSF operations. Info Edge's net profit is estimated to rise up to 56%, while sales are likely to increase by 24%, and Naukri is likely to report a 30% YoY revenue growth. Samvardhana Motherson's consolidated revenue is expected to increase by 3% quarter-on-quarter in 4QFY23.

Option data suggests a broader trading range in between 18000 to 18600 zones while an immediate trading range in between 18100 to 18500 zones.

Zee Entertainment Enterprises has reported a net loss of Rs 196 crore for the three months ended March period. Total income during the quarter under review fell 8% to Rs 1,934 crore.

Makemytrip cofounder and group CEO Rajesh Magow is the vice-chairperson, and Times Internets Satyan Gajwani has been selected as the treasurer.

Experts predict that Info Edge, a company in the consumer services industry, could surpass Rs 4,000-4,400 levels despite a 16% drop from August 2022 highs that saw it close at Rs 3,890 on 22 May 2023. The stock bounced back from its short-term moving average and is trading above 5,10,20 and 30-day moving averages, indicating the upward trend is likely to persist. Furthermore, the breakout level from the head and shoulder pattern at Rs 3,580 is now an important support level and traders are advised to buy now or on slight dips for short-to-medium term gains.

The stock traded at a P/E multiple of 64.43, while the price-to-book value ratio stood at 3.37.

A total of 4,731 shares changed hands on the counter till 02:10PM (IST)

A total of 2,530 shares changed hands on the counter till 02:15PM (IST)

A total of 5,992 shares changed hands on the counter till 10:31AM (IST)

As of 31-Mar-2023, promoters held 38.05 per cent stake in the company, while FIIs held 31.41 per cent and domestic institutional investors had 10.5 per cent.

The stock traded at a P/E multiple of 63.16, while the price-to-book value ratio stood at 3.37.

Castler said that the raised funds will be used to further grow its domestic and cross-border escrow product portfolio.

A total of 3,819 shares changed hands on the counter till 01:18PM (IST)

On the technical charts, the RSI of the stock stood at 63.36.