Info Edge shares in focus as Google Play Store reinstates Naukri, 99acres apps
Info Edge said the company was working with Google to re-instate the rest of the mobile applications- Naukri recruiter and Shiksha. Any further development on this would be duly intimated to the stock exchanges, Info Edge said.
- Mar 4, 2024,
- Updated Mar 4, 2024 8:59 AM IST
Shares of Info Edge will be in focus on Monday morning after the company said its mobile applications namely Naukri jobseeker, Naukrigulf Job Search App and 99acres Buy/Sell/Rent Property have been reinstated on the Google Play Store.
"Any new users wishing to download and use the aforesaid company’s mobile applications, can now do so from the Google Play Store," Info Edge said on March 2.
Info Edge said the company was working with Google to re-instate the rest of the mobile applications- Naukri recruiter and Shiksha. Any further development on this would be duly intimated to the stock exchanges, Info Edge said.
Kotak Institutional Equities said Info Edge is largely unimpacted as it generates limited revenue from in-app purchases on Naukri and 99acres apps. Jeevansathi app witnesses higher in-app purchases though it was not delisted, implying Info Edge is broadly in sync with Google’s policies, Kotakn said.
Info Edge has also clarified that there are no retrospective payouts pending to Google, Kotak noted.
Earlier, Info Edge had suggested that its mobile applications Naukri.com Job Search App, Naukri Recruiter, Naukrigulf Job Search App, 99acres Buy/Sell/Rent Property and Shiksha were removed or delisted from the Google Play Store, along with several mobile applications of other companies/entities.
"The removal/delisting of the Company’s mobile applications from the Google Play Store comes as a surprise to the company, since this action was taken by Google without giving due and sufficient notice to the company. The company is reviewing and evaluating the next course of action and working with Google in this regard, to ensure that the vompany’s mobile applications are reinstated on the Google Play Store, in the best timely manner," Info Edge had said.
Info Edge noted that users who had mobile applications downloaded on their mobile devices can continue to use the same.
"In addition, all users that are using the company’s mobile applications through other platforms (such as the Apple App Store) or through the concerned web platforms (on both mobile and desktop), are not impacted by this change," Info Edge had suggested.
Shares of Info Edge will be in focus on Monday morning after the company said its mobile applications namely Naukri jobseeker, Naukrigulf Job Search App and 99acres Buy/Sell/Rent Property have been reinstated on the Google Play Store.
"Any new users wishing to download and use the aforesaid company’s mobile applications, can now do so from the Google Play Store," Info Edge said on March 2.
Info Edge said the company was working with Google to re-instate the rest of the mobile applications- Naukri recruiter and Shiksha. Any further development on this would be duly intimated to the stock exchanges, Info Edge said.
Kotak Institutional Equities said Info Edge is largely unimpacted as it generates limited revenue from in-app purchases on Naukri and 99acres apps. Jeevansathi app witnesses higher in-app purchases though it was not delisted, implying Info Edge is broadly in sync with Google’s policies, Kotakn said.
Info Edge has also clarified that there are no retrospective payouts pending to Google, Kotak noted.
Earlier, Info Edge had suggested that its mobile applications Naukri.com Job Search App, Naukri Recruiter, Naukrigulf Job Search App, 99acres Buy/Sell/Rent Property and Shiksha were removed or delisted from the Google Play Store, along with several mobile applications of other companies/entities.
"The removal/delisting of the Company’s mobile applications from the Google Play Store comes as a surprise to the company, since this action was taken by Google without giving due and sufficient notice to the company. The company is reviewing and evaluating the next course of action and working with Google in this regard, to ensure that the vompany’s mobile applications are reinstated on the Google Play Store, in the best timely manner," Info Edge had said.
Info Edge noted that users who had mobile applications downloaded on their mobile devices can continue to use the same.
"In addition, all users that are using the company’s mobile applications through other platforms (such as the Apple App Store) or through the concerned web platforms (on both mobile and desktop), are not impacted by this change," Info Edge had suggested.