Info Edge stock flies on hopes of economic revival, Zomato's upcoming IPO

Shares have rallied 27 per cent in the last one month to a record high of Rs 5,549.25 apiece

A recovery in Info Edge’s core business and potential value unlocking for shareholders with the upcoming IPO of online food delivery startup Zomato have triggered a sharp rally in the company's shares.

Info Edge is one of the key players in India’s online classifieds industry due to large deal wins and sustained demand momentum is seen aiding hiring activity. It also has investments in at least 23 startups including a 22 per cent stake in India’s largest online food delivery platform Zomato.

The recruitment vertical i.e., Naukri accounts for 70 per cent of the company’s standalone revenues and is a