Info Edge shares gain as Google Play Store reinstates Naukri Recruiter, Shiksha apps

Info Edge Ltd shares were trading marginally higher in Monday's trade after the company in a filing to stock exchanges said its rest of the mobile applications namely - Naukri Recruiter and Shiksha, have also been reinstated on the Google Play Store.

Info Edge said it would continue to work with Google to prevent such delisting/removal of the company  mobile applications, from the Google Play Store, in the future.

Following the development, the stock rose 0.76 per cent to hit a high of Rs 5,230 on BSE. Earlier today, Info Edge said its mobile applications namely Naukri jobseeker, Naukrigulf Job Search App  and 99acres Buy/Sell/Rent Property were 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.

Kotak Institutional Equities said Info Edge was largely unimpacted by the removal of apps as it generated 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, Kotak noted earlier.

The delisting of the Info Edge's mobile applications from the Google Play Store was a surprise, since the action was taken by Google without giving due and sufficient notice to the company.