India's Info Edge rises after AI investments double in value

Info Edge (India)

Tue 06:22

** Shares of Info Edge (India) INED.NS rise nearly 3% to 1,013.25 rupees
** AI investments have doubled in value from 6.14 bln rupees ($64.85 million) to 12.68 bln rupees - co wrote to shareholders on Monday
** Flags AI, deeptech, consumer technology as major themes for its investing activity
** The parent of jobs portal Naukri has invested 49 bln rupees across 135 cos, which is now valued at 413 bln rupees - co's letter
** INED rated "buy" on avg by 20 analysts, median PT 1,320 rupees - LSEG-compiled data
** Stock down 24% YTD
($1 = 94.6800 Indian rupees)

(Reporting by Abhirami G in Bengaluru)
((abhirami.g@thomsonreuters.com))