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Infibeam Avenues to acquire Rediff.com worth ₹25 Crore; jumps 3.2%
short by / on Monday, 5 August, 2024
Infibeam Avenues Ltd's shares jumped 3.2% after acquiring a 54% stake in Rediff.com India for ₹25 crore, to be completed in 90 days. Rediff.com attracts 38 million monthly visitors. Additionally, Infibeam's Q1FY25 revenue rose 1.4% to ₹753 crore, with net profit surging 180% to ₹ 70 crore.
read more at Trade Brains