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Shares of IndiaMART InterMESH hit an over three-month low at Rs 7,220, down 6.6 per cent on the BSE in intra-day trade on Tuesday. The scrip has declined 18 per cent in three days following the announcement of its March quarter (Q4FY21) results on Thursday, April 29. The stock was trading at its lowest level since January 7. IndiaMART s, India s largest online B2B marketplace for business products and services, consolidated net profit during the quarter declined 31 per cent to Rs 56 crore over the December quarter (Q3FY21). Total income was down 4 per cent quarter on quarter (QoQ) at Rs 190 crore as against Rs 198 crore in the previous quarter. Earnings before interest, taxes, depreciation and amortization (Ebitda) margins contracted 300 basis points (bps) QoQ to 48 per cent due to an increase in manpower and outsourced sales cost.
ASX climbs as Afterpay hits record high
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The Australian sharemarket made a solid start to post-Christmas trading on Tuesday, the first session since outgoing US President Donald Trump signed a $US2.3 trillion ($3 trillion) stimulus bill and an agreement on a post-Brexit trade deal was reached.
The S&P/ASX 200 Index rose 35.5 points, or 0.5 per cent, to 6700.3, advancing for a third straight session. Afterpay closed at a record high of $122.09 after advancing 5.3 per cent.
Shares on Wall Street rallied on Monday after President Trump endorsed the pandemic aid bill. In a further boost to sentiment, the Democratic-led US House of Representatives voted 275 to 134 to meet his demand for $US2,000 COVID-19 relief cheques on Monday.