Online food aggregator Zomato has received approval from the Securities and Exchange Board of India (Sebi) to launch its Rs 7,500 crore initial public offering, business news channel ETNow reported.
Info Edge (Naukri) will get good benefits as they are the largest shareholder of 18.7%
Are you waiting for Zomato IPO
If yes, then concentrate on Naukri which is a part of Info edge private limited as they are holding more than 18% shares in the company Zomato. Info Edge is selling around 100m shares in this IPO which worth rupees 750 crores.
IPO mile ya an mile… Kya bharosa?
Naukri last close at 5365.10. Already given a healthy breakout above 5000 levels with good volume on the weekly chart as shown in the figure. Naukri has strong support in the range of 5050—4580 levels.
Naukri looks positive above 5400 and could test 6300—6900 and then to 8000+++ levels in days to come.
Crossover RSI on the weekly chart also suggests a positive indication in the stock Naukri.
Investment Pick: Naukri looks positive above 5000 levels, traders can buy and accumulate in panic with stop loss below 4580 on a closing basis.