Info Edge drops 12% in 2 days despite analysts raising targets; here's why

Analysts at Edelweiss Securities have 'Hold' rating on the stock with a target price of Rs 5,460 considering the core business's steep valuation

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