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Zomato, Policybazaar, Information Edge down as much as 9%; hit 52-week lows

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Zomato, Policybazaar, Information Edge down as much as 9%; hit 52-week lows

Shares of meals supply firm Zomato, PB Fintech, which operates on-line insurance coverage dealer PolicyBazaar and mortgage market PaisaBazaar, and on-line & offline providers supplier Information Edge (India) slipped by as much as 9 per cent, hitting their respective 52-week lows on the BSE in intra-day commerce on Friday.


Information Edge (India) is founding investor in Zomato and PB Fintech. Up to now one week, these three shares have fallen within the vary of 11 per cent to twenty per cent as in comparison with a 3.8 per cent decline within the S&P BSE Sensex.



Among the many particular person shares, Information Edge (India) tanked 9 per cent to hit a 52-week low of Rs 3,753. The corporate is primarily engaged in offering on-line & offine providers primarily by means of its on-line portal Naukri.com, Jeevansathi.com, 99 acres.com, shiksha.com & offine portal Quadrangle.com.


Up to now 4 buying and selling days, the inventory plunged 19 per cent after the corporate stated it’s planning to spend money on three new schemes in partnership with Temasek. MacRitchie Investments Pte. Ltd, an oblique wholly owned subsidiary of Temasek Holdings (Pvt.) Restricted has dedicated roughly 50 per cent of whole corpus of every schemes of Various Funding Funds (“AIFs”).


The entire dimension of all of the three proposed funds/ schemes collectively is $325 million with Temasek committing 50 per cent and Information Edge looking for to commit 50 per cent, the corporate stated in letter to shareholders. CLICK HERE FOR STATEMENT

In the meantime, Zomato (down 6 per cent to Rs 57.65) and Policybazaar (down 5 per cent to Rs 597.20) have hit their respective all-time lows since their inventory market debut.


The inventory of Zomato traded decrease for a seventh straight day and has slipped 28 per cent throughout the interval. With latest fall, at the moment Zomato traded 24 per cent beneath its problem worth of Rs 76 per share. It had hit a report excessive of Rs 169.10 on November 16, 2021.

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So far within the calendar yr 2022, the inventory worth of Zomato has more-than-halved, down 58 per cent, from a degree of Rs 137.75 touched on December 31, 2021. Institutional traders, led by overseas portfolio traders (FPIs) and mutual funds (MFs), have collectively decreased stake by 2 share factors or 152 million fairness shares in Zomato within the January-March quarter (Q4FY22). Nevertheless, particular person shareholders’ holding in Zomato elevated by 2.07 share factors to 9.07 per cent from 7.06 per cent in Q3FY22.

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The post Zomato, Policybazaar, Information Edge down as much as 9%; hit 52-week lows appeared first on India Express Online.

Source: Around the Globe

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