Info Edge shares jump 3% as Google Play Store restores its apps
Upstox
2 min read • Updated: March 4, 2024, 3:33 PM
Summary
Android apps owned by Info Edge Ltd – Naukri.com Job Search App, Naukri Recruiter, Naukrigulf Job Search App, 99acres Buy/Sell/Rent Property and Shiksha- were delisted from the Google Play Store last week.
Shares of Info Edge Ltd gained more than 3% on Monday after the company's mobile applications, like Naukri Recruiter and Shiksha, made a comeback on the Google Play Store a couple of days after being delisted on the platform.
Info Edge shares gained as much as 3.43% to a high of ₹5361.75 apiece on NSE in morning trade on Monday after Google Play Store reinstated the apps of the company, which owns popular job portal Naukri.com and property listing platform 99acres.com.
“In furtherance of our intimation/disclosure dated March 02, 2024, we would like to inform you that Company’s rest of the mobile applications namely - Naukri recruiter and Shiksha have also been reinstated on the Google Play Store," Info Edge said in a stock exchange filing.
Android apps owned by Info Edge Ltd-- Naukri.com Job Search App, Naukri Recruiter, Naukrigulf Job Search App, 99acres Buy/Sell/Rent Property and Shiksha were delisted from the Google Play Store last week.
The delisting followed Google's announcement that it would be removing 10 Indian application developers from its Play Store in India if they did not adhere to the platform's filling policies.
"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," Info Edge said in an exchange filing on March 2. The apps, however, continued to work on Android devices they were already installed on. The delisting did not impact the applications’ functioning on installed through other platforms (Apple App Store) or concerned websites.
Some of these apps – Naukri Jobseeker, Naukrigulf Job Search App and 99acres Buy/Sell/Rent Property – were reinstated on the Google Play Store hours after the strict action on March 2 over billing issues.
The remaining apps made a comeback on the application store today, on March 4. Info Edge added that it would continue to work with Google to avoid just application delisting in future.
Shares of Info Edge Ltd were trading ₹5,157 apiece, down 0.55%, on NSE at 3:00 pm.