Indian internet firm Info Edge is ramping up the stage and touched a record on Tuesday. The stocks of the venture surged up to their highest and topped the index of 10 member index in the National Stock Exchange in the month of November. The internet company operates an eminent job-hunting e-marketplace Naukri.com.
Though the arrival of the Covid vaccine drives off the inclination towards the technological shares, shares of Info edge is reviving in its numbers as the capital investors maintained their funds running to the system.
The information technology services giant in India Info Edge India Ltd. has already funded almost 23 ventures as claimed by their website. The IT services provider has a significant share in the online delivery giant Zomato. Info Edge possesses almost a fifth of the delivery services Zomato which already has Ant Group of Jack Ma as the capital investors.
The internet venture Info Edge has fast-paced in the job hunt process amid the lockdown and pandemic in the year 2020. According to data by Bloomberg, there was an approximate roll up in the numbers up to 187% since the last two years and has been trading for over 125 times of the 12-month estimated earning of the analysts. They declared Info edge as the most competent player in the domain of internet services and media in India. In addition to it, Bloomberg further added that Info edge has the highest stocks among companies with a market cap of a minimum of $500 million in 2020.
Fund Manager of JOHCM USA, one of the top investors in their venture, Stephen Lew said, “ The listing of individual portal businesses could be very interesting just because of the fact that, depending on the timing, the market may decide to give it a very nice valuation.” He further expressed his views for the growth of the delivery giant Zomato. He added, “ Zomato, if managed well, could really turn into one of the first globally important Indian Internet businesses.”
The Info Edge India Pvt. Ltd was launched during the dot-com expansion in May 1995 by Sanjeev Bikhchandani. Also, in November 2006, the company became the very first Internet-domain venture to be listed on the Indian Stock Exchanges.
The accelerated growth in its shares is not only specific to the employment searching portal. Apart from Naukri.com, the venture Infor edge has its potential share of the revenue from the other portals of real estate and matrimony platform.
A valuation strategist of the stockbroker venture Angel Broking Ltd, Jyoti Roy expressed her notions about the growth of the Info edge. She claimed that Info Edge covers a specific domain in the internet technology industry of India. According to BICS media in India, which provide the vast internet services, “The re-rating of the stock has been driven by the consistent performance of the recruitment business and due to a significant increase in valuations of its investments in Zomato and policybazaar.com.”
Even after the tremendous growth of the company not all investors are confident in buying the shares at once. Chokkalingam G is one such investor who is currently chief investment officer at Equinomics Research & Advisory Ltd in Mumbai. He said, “The future story has to be convincing at right valuations, so I am not buying.”
However, such suspicion has not affected the growth of the company as it continues to rise by 0.3% to 3,934.95 Rupees with a 0.7% descent in NSE on Wednesday morning.
Info Edge is already in the limelight amid the lockdown and pandemic due to its surge in the shares. The engagement of users in its various platform especially Naukri.com must be one of the key factors when most of them are struggling with laid-off mail.