Info Edge, owner of job portal naukri.com, is one of India’s premier online company in recruitment, matrimony, real estate, education and related services.
In the past three weeks, the stock has outpaced the market by surging 20 per cent, as compared to a 3 per cent rise in the S&P BSE Sensex. It is 8 per cent away from its all-time high of Rs 2,432 touched on June 3, 2019.
Between August 13th and September 12th, the month following its April-June quarter (Q1FY20) result, the stock fell 14 per cent after the company reported a 80 basis points drop in the EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin due to higher advertising expenses predominantly in Naukri and Jeevansathi verticals. During this period, the stock was also hit when 2,000 restaurants opted out of food aggregator platforms such as Zomato in which Info Edge (India)
Ltd has about 26.4 per cent stake. The benchmark index had gained 0.4 per cent during the same period.
At 11:03 am, Info Edge (India) was trading 4 per cent higher at Rs 2,206, as compared to a 0.64 per cent rise in the S&P BSE Sensex. A combined 211,699 equity shares have changed hands on the counter on the NSE and BSE till the time of writing of this report.