Mumbai: In the coronavirus-induced market meltdown, this stock has been one of the few that have bled less and managed to protect investor wealth. But analysts say it could be tough for this multibagger stock to continue its momentum in the days ahead. The company is Info Edge (India), which runs Naukri.com, 99acres.com, JeevanSathi.com, 99acres.com and Shiksha.com. It also holds 26.4 per cent stake in Zomato and 13.5 per cent in Policybazaar. The stock has been a multibagger over the past decade, and despite a marginal decline in the selloff triggered by Covid-19, it has delivered 930 per cent gain over the last 10 years. The stock currently trades at Rs 2,266, 28 per cent away from its record high of Rs 3,130 hit on February 7. It has shed 10.42 per cent for the year to date even against a 26 per cent drop in the Sensex. However, the sharp drop in new jobs could be a concern, especially when the company’s other verticals are also seeing muted demand. Currently, the stock has 2 ‘strong buy’, 9 ‘buy’, 7 ‘hold’, 2 ‘sell’, and 4 ‘strong sell’ ratings on the publicly available Reuters Eikon database. Naukri.com publishes monthly hiring trends,… Read full this story
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