The stock had declined by 11.31% in the past eight sessions to end at Rs 5,805.05, from its recent closing high of Rs 6,545 recorded on 17 November 2021.

In the past six months, the scrip has gained 34.37% while the benchmark Sensex has added 11.27% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 39.963. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading below its 50-day and 100-day simple moving average (SMA) placed at 6393.61 and 6029.67, respectively. It has, however, managed to hold above the its 200-day SMA placed at 5403.56.

Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com.

The company reported an exceptionally higher standalone net profit of Rs 8,355.72 crore in Q2 FY22 as against a standalone net profit of Rs 51.15 crore in Q2 FY21. Info Edge's net sales stood at Rs 351.7 crore in Q2 FY22, rising by 37.3% over Q2 FY21.