Indo Edge Shares In Focus As Citi Cuts Target Price After Q3 Results

Citi Research has downgraded its target price for Info Edge, a prominent player in the Indian online recruitment and real estate sectors, from Rs 1,120 to Rs 1,300 per share following the company's disappointing third-quarter results. This adjustment reflects concerns over the company's ability to maintain growth in a challenging market environment. Info Edge, known for its flagship job portal Naukri.com, has been facing headwinds as economic uncertainty impacts hiring trends across various industries. Investors and analysts will be closely monitoring the company's strategic response to these challenges, particularly in light of changing consumer behavior and competitive pressures. The decision by Citi underscores the cautious sentiment prevailing among market participants regarding Info Edge's near-term performance prospects, which may influence trading patterns in the stock going forward.