The company reported 5.48 per cent year-on-year (YoY) growth in its standalone billings for Q4 FY24 at ₹2495.9 crore as compared to ₹2366.3 crore in the corresponding period last year.
A silver lining for investors in Info Edge stock is that robust hiring trends in non-IT sectors are expected to offset the impact of muted IT hiring to some extent
Info Edge share rises over 5% after Zomato raises $250 million
Amid high volume, Info Edge share price opened with a gain of 3.9% and touched an intraday high of Rs 5250, rising 5.1% against the earlier close of Rs 3,401.70 on BSE today
BusinessToday.In | February 23, 2021 | Updated 16:04 IST
Info Edge stock touched an intraday low of Rs 3,280, falling 3.58% on BSE
Shares of Info Edge, which holds a 19% stake in food delivery giant Zomato, were trading 5% higher on BSE today. The rise in stock came after the announcement that online food delivery firm Zomato raised $250 million (over Rs 1,800 crore) from Tiger Global, Kora and others, valuing the online food ordering platform at $5.4 billion.
Info Edge shares, on Tuesday, surged 5 per cent to Rs 5,250 in intra-day deals on the BSE after food delivery giant Zomato raised another $250 million in primary fundraise from existing and new investors. Info Edge, the nation’s leading job-hunting platform, also has investments in at least 23 startups, including Zomato. In a stock exchange filing, Info Edge said that the latest transaction has taken the post-money valuation of Zomato to $5.4 billion. This is an increase from its previous valuation of $3.9 billion in December last year when it closed a $660 million primary financing round. “On a fully converted and diluted basis, Info Edge’s effective stake in Zomato stands at 18.4 per cent,” Info Edge said in the stock exchange filing.
Shares of Info Edge India, one of the leading internet firms in the country, declined 4.4 per cent in Wednesday s intra-day session to hit a low of Rs 4,865 per share. With today s slide, the share price has tumbled 12 per cent in two days. At 12:10 PM, the stock was trading 4 per cent down at Rs 4,865 on the BSE, compared with a 0.25 per cent decline in the S&P BSE Sensex. The stock is now down 17 per cent from its 52-week high level of Rs 5,876 apiece, touched on January 6, 2021. On February 12, the company had reported a 22.7 per cent on year decline in standalone net profit at Rs 69.87 crore along with a 15 per cent fall in net sales at Rs 272.30 crore in Q3FY21 over Q3 FY20.