Investor fancy about internet stocks and the hopes of a recovery in the job market have led to a huge run-up in the stock price of Info Edge, which owns Naukri.com, a web portal providing recruitment solutions. Zomato, in which the company owns a 50% stake, has also made about six acquisitions in the past six months, boosting investor sentiment. The company’s stock is currently trading at 72X its FY15 estimated earnings and 7X its book value.
Taking money home
At a time when sentiment is high and valuation is at a peak, Info Edge has sold 535,000 shares
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