Info Edge shares plunge over 5 pc to hit fresh 52-week low

MUMBAI: Shares of Info Edge India -- the parent company of Naukri.com -- plunged over 5 per cent in early trade on Monday and hit a fresh 52-week low as analysts remained cautious on the near-term growth outlook.

The BSE 100 stock touched an intraday low and a new 52-week low of Rs 909.20, down 5.4 per cent from the previous close during early trade on the BSE. Info Edge shares were among the top losers on the Nifty Midcap 50 index during the session.

“Traded on new 52-week low value 909.20", the BSE said.

Domestic brokerage firm JM Financial has maintained its ‘reduce’ rating on the stock and lowered the target price to Rs 1,000.

“While the company delivered stronger-than-expected margins in businesses such as Naukri and 99acres, the broader hiring environment remains subdued amid rising adoption of artificial intelligence in technology jobs and ongoing macroeconomic uncertainties,” the brokerage said.

It added that meaningful acceleration in billings growth may remain challenging in the near term despite improving traction in AI-driven offerings and stronger positioning in the real estate platform segment.

The brokerage also cautioned that the stock may not witness significant rerating without sustained top-line growth across key business segments.