1. Rediff.com India (REDF), along with subsidiaries, provides online internet-based services in India and for the global Indian community. It operates in two segments: India Online business and US Publishing business. Rediff also publishes two weekly newspapers in North America - India Abroad and India in New York. At close last week, the stock leaped 30.5%.
Last week, a report released by Bedford said that improving broadband use in India is boosting the popularity of internet companies like Rediff and Sify Technologies. The research report notes that Rediff saw a significant year-over-year quarterly growth of 25%, topping the industry average of 19%.
The Bedford report adds that Rediff has also rolled out a group service called Rediff Deal Ho Jaye!, a Groupon like service offering consumers the opportunity to discover new local services at discounted prices. These deals will be available in 40 Indian cities.
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