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Indiamart share slipped 7 percent after reaching height, know its reason

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new Delhi. Indiamart Share Price was seeing its fourth consecutive rise, and the company’s stock reached a new high of 52 weeks. After that investors started selling. The company’s stock plunged by 7 per cent due to profit recovery. Let me tell you that two days ago the company had informed that it has sold 70% stake of 10 Times to Mayank Chaudhary and Atul Todi for 21.17 lakh rupees. He will hold the remaining 30 per cent. After which, the shares of the company were also seen up by 9 percent on Wednesday.

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IndiaMart shares down 7 percent
Today, after being at an all-day high, the company’s shares are witnessing a 7 per cent drop before the market closes. The stock is witnessing a steep decline due to profit recovery from investors. Currently, the company’s stock is trading at Rs 4265, up about 7%, ie Rs 314.60. Whereas today the company’s stock also went to the lowest level of Rs 4207.50. While the company’s stock opened at 4569 today.

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Today the stock was at a height of 52 weeks
At the same time, the company’s stock opened with a weakness of about 6 rupees as compared to Tuesday. After that there was a tremendous boom and the stock of the company rose by Rs 150 to Rs 4727.95 as compared to yesterday’s closing. This is also the company’s 52-week high. Since then, there has been a phase of profit booking by the investors. Let us tell you that the company’s stock closed at Rs 4575.05 yesterday.

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The stock has jumped up to Rs 1200 in four days
On the other hand, the company’s shares have risen by Rs 1200 in the last four trading sessions. As per data from BSE, the company’s stock opened at Rs 3511.25 on 31 July, and today the stock came to Rs 4727.95. That is, during this time, the company’s stock rose by about 1200 rupees. According to experts, profit-booking is being done by the investors with the rise of four consecutive sessions. Which is being seen in the shares of the company. It is possible that the shares of the company were seen falling on Friday.

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