Info Edge (India) slips as Google Play removes its 99acres and Naukri apps from its store

Info Edge Share Price: Info Edge slipped nearly three per cent in a special session on BSE on Saturday (March 2, 2024) after Google Play removed the technology holding company's apps 99acres and Naukri from its store.

The stock of Info Edge ended the trading session on Saturday lower by 1.23 per cent, or Rs 64.95, at Rs 5216.90.

The stock that opened at Rs 5200.00 on Saturday slipped to the day's low of Rs 5130.00, a 2.82 per cent decrease from Friday's close of Rs 5281.85.

"We would like to inform you that the Company’s mobile applications (viz. Naukri.com Job Search App, Naukri Recruiter, Naukrigulf Job Search App, 99acres Buy/Sell/Rent Property and Shiksha), have been removed/delisted from the Google Play Store today by Google, along with several mobile applications of other companies/entities as well," Info Edge said in a statement on Saturday.

The company said that the removal/delisting of the company’s apps came as a surprise to it since the action was taken by Google without giving due and sufficient notice to Info Edge.

"The Company is reviewing and evaluating the next course of action and working with Google in this regard, to ensure that the Company’s mobile applications are reinstated on the Google Play Store, in the best timely manner," it said.

What Kushal Gupta says about Info Edge

Zee Business analyst Kushal Gupta has given a 'sell' call on Info Edge for a target of Rs 5,150 with stop loss at Rs 5,400. 

Catch all the highlights of the special Saturday session (March 2) on Dalal Street here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.