Info Edge India gains for third consecutive day, hits 2-month high

Shares of Info Edge (India) surged for the third straight day, up 6 per cent intra-day today, to hit a two-month high of Rs 2,242 on the BSE on Friday after the company invested Rs 6 crore in Happily Unmarried Marketing through its wholly-owned subsidiary.

“As part of company’s strategic investments, the investment would help the company to consolidate its position into the said line of business within the Internet Services industry,” Info Edge (India) said in regulatory filing on Tuesday.

Happily Unmarried, the company said, has diversified into men’s grooming through its brand Ustraa which is now driving the growth of the business. Ustraa is sold both online as well as through Modern and General trade.