Info Edge approves investment in Ninety Nine Labels; stock down

Info Edge has approved an investment of Rs 15.7 crores through equity stake in Ninety Nine Labels, company engaged in online retailing of merchandise, such as clothes, perfumes, fashion accessories, vouchers and discount deals on the internet, principally through the web portal www.99labels.com.

The stock was at Rs 740.70, down 0.93 per cent on the NSE. It touched a high of Rs 741 and low of Rs 731.15 in trade so far.