Why Rediff.com India (REDF) Stock Is Surging Today

NEW YORK (TheStreet) -- Rediff.com India (REDF) surged Friday after the company reported fourth-quarter and full-year results earlier in the week.

India's leading portal reported a 10% revenue increase in terms of rupees; however, revenue totaled $4.01 million, which marked a 4% year-over-year decline from $4.18 million. For the full year, revenue increased 4% to $16.25 million from $15.66 million in 2013.

The company also reported 103% growth in its online shopping marketplace and maintained a positive product margin of 14%. Rediff exceeded revenue from the display advertising business for the first time in its history.

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The stock was up 21.66% to $.291 at 11:02 a.m.

REDF Price Chart

REDF Price data by YCharts

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