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<a target="_blank" class="" href="https://www.businessinsider.com/nvidia-stock-price-earnings-party-investors-cult-investing-memes-2024-9">Nvidia</a> is joining the Dow Jones Industrial Average, the S&amp;P Dow Jones Indices said on Friday, replacing its rival Intel, which held the position for 25 years.The news follows a <a target="_blank" class="" href="https://www.businessinsider.com/intel-layoffs-cost-cutting-measures-pay-cuts-reduced-perks-2024-10">series of setbacks</a> for Intel, the storied, nearly six-decade-old chipmaker. As Nvidia's stock market value surpassed $3 trillion this year, Intel shares fell by more than half in 2024.Nvidia shares were up 3% in after-market trading. This story is developing. Check back for more information.

Nvidia to edge out Intel on Dow Jones Industrial Average

<ul class="summary-list"><li>US stocks climbed higher as traders took in inflation figures from October that were in-line with estiamtes.</li><li>Consumer prices rose 2.6% on a yearly basis last month and 0.2% for the month. </li></ul>US stocks ticked higher on Wednesday as traders took in fresh <a target="_blank" class="" href="https://www.businessinsider.com/inflation-october-cpi-consumer-price-index-federal-reserve-interest-rates-2024-11">inflation figures</a>, which were in line with economists' expectations. Major indexes edged up in early-morning trading, while bond yields slumped.Consumer prices grew 0.2% in the month of October and 2.6% on a year-over-year basis. The increase was <a target="_blank" class="" href="https://www.businessinsider.com/inflation-september-cpi-consumer-price-index-federal-reserve-interest-rates-2024-10">slightly hotter</a> than last month's 2.4% price growth, but in line with expectations, which kept investors hopeful that the Federal Reserve will cut interest rates at its December meeting. Expectations for another 25 basis point rate cut in December solidified. Markets are pricing in a 82% chance the Fed will trim its target rate by another quarter-point, up from a 59% yesterday, according to the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>."Given nervousness around the more inflationary aspects of Trump's policy proposals, markets appeared primed for an upside inflation surprise today," Seema Shah, the chief global strategist at Principal Asset Management, said in a note. "A December cut is still in the cards," she added.Still, the rise in the overall inflation rate makes the outlook for future Fed cuts uncertain, according to Skyler Weinand, the chief investment officer of Regan Capital."With Wednesday's CPI in line with expectations, but still stubbornly above the Fed's 2% goal, the Fed may have only one rate cut left in December before taking a pause from their easing path," Weinand said in a note.He continued: "The incredible move in the stock market postelection has effectively eased financial conditions for stock investors. This easing, combined with incoming fiscal stimulus, may warrant a pause on rate cuts by the Fed in the near future to allow the dust to settle and to process more incoming data."Assets that are part of the Trump Trade appeared to remain in-focus on Wednesday, with shares of Tesla rising as much as 3% while Dogecoin climbed 4% after <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-tesla-spacex-x-department-government-efficiency-jobs-2024-11">Elon Musk was appointed</a> to co-head Trump's newly created Department of Government Efficiency, along with entrepreneur Vivek Ramaswamy.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Wednesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,988.06, up 0.07%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,988.08, up 0.18% (+77.10 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 19,285.65, up 0.03% </li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-top-performing-asset-2025-bull-rally-trump-2024-11">Stock exposure is at an 11-year high</a> after the election as investors see US stocks as the top-performing asset next year, BofA said. </li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-biggest-risk-trump-win-china-trade-war-2024-11">The biggest risk to stocks</a> after Trump's election victory is China's reaction to a trade war, according to one research firm.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/dogecoin-price-market-value-ford-crypto-boom-trump-elon-musk-2024-11">Dogecoin surpassed Ford in value</a> as Trump's election win propelled the total crypto market cap to $3 trillion.</li><li>Here are <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-rally-trump-trade-outlook-risks-inflation-yields-dollar-2024-11">3 risks that could derail the Trump trade in stocks</a>, according to Morgan Stanley.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil declined 1.07% to $67.39 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 0.92% to $71.23 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> edged up 0.61% to $2,612.10 an ounce.</li><li>The 10-year Treasury yield dropped six basis points to 4.365%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> climbed 4.29% to $89,642.</li></ul>

Stock market today: Indexes edge higher after tame October inflation report

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello there! Prime Day is officially here, and we've got a <a target="_blank" href="https://www.businessinsider.com/guides/deals/best-prime-day-deals-big-deal-days-2024-10">rundown on all the deals worth checking out</a>.In today's big story, another hurricane <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-category-five-threatens-florida-fema-funding-2024-10">is set to hit Florida this week</a>, threatening a real-estate market already on edge.What's on deck:<ul><li>Markets: China's <a target="_blank" rel="noopener" href="https://www.businessinsider.com/china-stock-markets-csi300-golden-week-reopening-bazooka-stimulus-outlook-2024-10">stock rally fizzles</a> as lack of fresh fiscal stimulus disappoints investors.</li><li>Tech: <a target="_blank" href="https://www.businessinsider.com/elon-musk-robotaxi-day-tesla-robotics-ai-2024-10">Elon Musk's robotaxi pitch</a> this week could decide Tesla's future.</li><li>Business: <a target="_blank" rel="noopener" href="https://www.businessinsider.com/meet-jeff-smith-starboard-value-hedge-fund-investor-pfizer-2024-10">Meet Jeff Smith</a>, the hedge-fund investor taking on Pfizer.</li></ul>But first, when it rains, it pours.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Hurricane (part 2)</h2><div type="image" title="Hurricane Helene" height="1334" width="2000" msid="114050793" hostid="261" sizebytes="123164"></div>Another hurricane is expected to hit Florida as the state continues recovering from Hurricane Helene.Hurricane Milton, a Category 4 storm (it weakened from a Category 5, but remains "extremely dangerous"), is on track <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-category-five-threatens-florida-fema-funding-2024-10">to make landfall near Tampa Bay by Wednesday</a>. It's the latest hurdle for the state's volatile real-estate market.Milton's peak wind speeds hit 160 mph on Monday. Heavy rain is expected before the storm arrives, and flooding is anticipated throughout the region. Florida Gov. Ron DeSantis has issued a state of emergency for 51 counties, and mandatory evacuations have begun in some areas. The mayor of Tampa, Jane Castor, has also issued a stark warning that <a target="_blank" rel="noopener" href="https://www.businessinsider.com/hurricane-milton-tampa-mayor-castor-evacuation-orders-die-warning-helene-2024-10">anyone who remains in the city as Milton approaches will "die."</a>It's never a good time for a hurricane to hit, but preparing for a powerful storm while you recover from another makes the situation even more challenging.Helene caused over 220 deaths and as much as $34 billion in damage, according to an estimate from Moody's Analytics. Meanwhile, federal agencies meant to provide emergency assistance, like FEMA and the Small Business Administration, face their own cash crises.<div type="image" title="Hurricane Helene" height="1334" width="2000" msid="114050795" hostid="261" sizebytes="707320"></div>Back-to-back hurricanes represent the latest problem for a real-estate market facing buyer's remorse.The threat and cost that hurricanes pose mean Florida homeowners have some reevaluating to do <a target="_blank" href="https://www.businessinsider.com/florida-real-estate-worth-it-home-prices-insurance-hurricane-helene-2024-10">if they want to remain in the state</a>, write Business Insider's Jordan Pandy, Dan Latu, and Madeline Berg.One homeowner told BI she pays $7,000 a year in flood and hazard insurance for her 1,400-square-foot bungalow just south of Tampa. (The policies paid off, her home was deemed uninhabitable after Helene, and she still wants to live there after it's repaired.)But those high costs, coupled with the annual fear of potentially losing your home every fall, have other residents throwing in the towel. Even a few insurers have <a target="_blank" href="https://www.businessinsider.com/florida-condo-owners-prices-drop-insurance-hoa-taxes-increase-2023-3">called it quits on the state</a>, while others could increase their prices by over 300% in the coming years.It's representative of the extremes the Sunshine State's real-estate market has faced in recent years. One of the pandemic's hottest markets, some people are now souring on Florida over its <a target="_blank" href="https://www.businessinsider.com/florida-housing-market-sales-weather-climate-change-retirement-pandemic-costs-2024-9">climate, costs, and overcrowding</a>. (It's not alone in its post-pandemic comedown, as <a target="_blank" href="https://www.businessinsider.com/texas-housing-market-home-prices-falling-austin-dallas-moving-trends-2024-10">Texas is facing a similar fate</a>.)But as much as people want to get out of the state, there will always be those looking to get in. More than 8,000 miles of coastline will do that.One Florida resident whose home sustained almost three feet of water damage from Helene cut their listing price by 40%. Within hours, their real-estate agent received 25 calls from investors interested in the property.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Harris hits '60 Minutes' without Trump. Political scientists weigh in on<a target="_blank" href="https://www.businessinsider.com/kamala-harris-sixty-minutes-interview-donald-trump-why-explained-2024-10"> whether the interview matters</a>.</li><li>Google <a target="_blank" rel="noopener" href="https://www.businessinsider.com/google-app-store-android-third-party-epic-games-judge-2024-10">must allow third-party app stores on Android</a>, Epic Games judge rules.</li><li>The job market is in the 'Twilight Zone,' <a target="_blank" href="https://www.businessinsider.com/job-market-outlook-claudia-sahm-layoffs-hiring-economy-twilight-zone-2024-10">top economist Claudia Sahm says</a>.</li><li>The Russian arms dealer who was exchanged for Brittney Griner is <a target="_blank" href="https://www.businessinsider.com/russian-arms-dealer-viktor-bout-sell-weapons-to-houthis-wsj-2024-10">trying to sell weapons to the Houthis: report</a>.</li><li>This $9 billion hedge fund just joined the raid on big-bank commodity-index traders <a target="_blank" href="https://www.businessinsider.com/alphadyne-hires-jpmorgan-commodity-index-head-byuen-2024-10">with a senior JPMorgan hire</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Xi Jinping" height="1500" width="2000" msid="114050791" hostid="261" sizebytes="856940"></div><ol><li>Jittery investors are keeping a lid on China's stock market rally. Stocks surged on Tuesday thanks to pent-up demand from a weeklong trading break — but lost steam after Beijing <a target="_blank" rel="noopener" href="https://www.businessinsider.com/china-stock-markets-csi300-golden-week-reopening-bazooka-stimulus-outlook-2024-10">failed to announce more stimulus measures</a>.</li><li>What recession? Goldman Sachs cut the <a target="_blank" href="https://www.businessinsider.com/recession-outlook-economy-goldman-unemployment-jobs-report-nonfarm-payrolls-rates-2024-10">probability of a recession in the next year to 15%</a>, largely thanks to a strong jobs report. But the jobs report might have lowered the chances of something else: <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-fed-outlook-recession-economy-stocks-ed-yardeni-2024-10">more rate cuts this year</a>.</li><li>Greenlight's dispute with its alleged former head of macro keeps getting messier. James Fishback is asking to be <a target="_blank" href="https://www.businessinsider.com/greenlight-former-macro-analyst-sues-david-einhorn-2024-10">awarded at least $5 million from Greenlight's David Einhorn</a>, claiming age discrimination. According to the filing, Einhorn dismissed Fishback's compensation concerns, saying he was being paid "a lot of money for a kid."</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Elon Musk." height="2400" width="3600" msid="114050797" hostid="261" sizebytes="493076"></div><ol><li>Elon Musk's next big pitch. The billionaire will have to convince investors that Tesla is more than just a car company at Thursday's Robotaxi Day, when he'll share updates on his plan for a driverless fleet. The event is part of Musk's master plan to position Tesla as <a target="_blank" href="https://www.businessinsider.com/elon-musk-robotaxi-day-tesla-robotics-ai-2024-10">tech company first, car company second</a> — and comes as Tesla's revenues have dipped.</li><li>Nvidia CEO Jensen Huang keeps talking about "sovereign AI." Here's what that means. A sovereign cloud guarantees data is stored locally, only used for intended purposes, and not transferred outside national borders. BI spoke with Vultr, a cloud-service provider, about why <a target="_blank" href="https://www.businessinsider.com/sovereign-clouds-explained-data-center-ai-national-security-vultr-2024-10">the phrase is all the rage</a>.</li><li>Reading the tea leaves of the adtech exodus. Adtech execs keep leaving, a sign of a <a target="_blank" href="https://www.businessinsider.com/adtech-leadership-changes-signal-new-phase-amid-investor-pressure-2024-10">new era marked by Big Tech dominance</a>. With Google, Meta, and Amazon looming large, independent adtech companies are forced to compete over scraps. Case in point: Adtech company <a target="_blank" href="https://www.businessinsider.com/adtech-company-pubmatic-layoffs-staff-reductions-2024-10">Pubmatic laid off 1% of its staff</a> last week as it reorients business toward growth areas.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="A woman drinks a tropical cocktail on a beach with an MRI scan in the background." height="900" width="1200" msid="114050788" hostid="261" sizebytes="137494"></div><ol><li>Mojitos and an MRI. Millions of American "medical tourists" save between 40% and 90% on medical services by getting health screenings abroad. <a target="_blank" href="https://www.businessinsider.com/medical-tourists-health-screenings-tests-exams-on-vacation-mexico-turkey-2024-10">That's a bad sign for the US healthcare system</a>.</li><li>The hedge-fund investor taking on Pfizer has a formidable reputation. Pfizer got a wake-up call on Sunday when one of the most feared activist investors on Wall Street revealed a stake in the company. Since 2011, Starboard Value's Jeff Smith has extracted board seats and profits from corporate America — <a target="_blank" rel="noopener" href="https://www.businessinsider.com/meet-jeff-smith-starboard-value-hedge-fund-investor-pfizer-2024-10">by force if necessary</a>.</li><li>How to reach potential voters: Porn and podcasts. They may not agree on much, but both Harris and Trump know that <a target="_blank" href="https://www.businessinsider.com/podcaster-new-politics-power-broker-harris-and-trump-know-it-2024-10">podcasts are the new way to reach voters</a>, with each appearing on ultra-popular shows. Elsewhere on the internet, <a target="_blank" href="https://www.businessinsider.com/porn-website-advertisement-project2025-male-harris-trump-2024-10">porn sites have become a battleground for male voters</a>. A $100,000 campaign is aiming to tie Trump to Project 2025's efforts to ban porn and imprison its producers.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Pepsico reports Q3 earnings, Samsung issues Q3 pre-earnings guidance, and Boeing announces Q3 deliveries.</li><li>Donald Trump participates in Univision News town hall with undecided Hispanic voters.</li><li>Kamala Harris has a full day of interviews: She'll appear on "The View" on ABC, "The Howard Stern Show" on SiriusXM, and "Late Night with Stephen Colbert" on CBS.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

Florida's real-estate market is on edge amid back-to-back hurricanes

<ul class="summary-list"><li>College graduates have stronger social lives than non-college-educated Americans, a survey found.</li><li>College can foster connections and offer financial benefits that can boost one's social life.</li></ul>In recent years, many young people have questioned whether the benefits of a <a target="_blank" href="https://www.businessinsider.com/only-1-in-4-americans-think-going-college-worth-it-2024-5">college degree</a> are worth the cost of tuition. According to a new survey, college graduates appear to have a clear edge in one area: their social lives.The Survey Center on American Life — a nonprofit organization backed by the right-wing think tank the American Enterprise Institute — published a <a target="_blank" href="https://www.americansurveycenter.org/research/disconnected-places-and-spaces/">report</a> in August based on a survey of more than 6,500 US adults conducted in March and April. The respondents were asked about their <a target="_blank" href="https://www.businessinsider.com/longevity-antiaging-friendship-social-interaction-relationships-2023-9">social interactions</a> and participation in their communities.The survey found that 24% of non-college-educated Americans had no close friends and 17% had at least six close friends. Among Americans with at least a bachelor's degree, 45% had at least six close friends, and 10% had none.Question after question, the same social divide continued to emerge in the survey. For example, compared to Americans without a degree, college graduates were much more likely to say they had friends who could help them move, give them a ride, take them to a doctor's appointment, or offer them a place to stay.Across all education levels, Americans reported having significantly fewer friends than they did in a similar Gallup survey conducted in 1990, according to the Survey Center report. However, the widespread <a target="_blank" href="https://www.businessinsider.com/hanging-out-book-sheila-liming-social-isolation-2023-3">decline in socialization</a> in recent decades has been steeper for people without a college degree. "Americans with fewer years of formal education participate less often in community life, are less civically active, have fewer close friends, and have less social support than those with four-year college degrees," the authors wrote. "Increasingly, the ability to cultivate strong social support is a privilege reserved for the college-educated, rather than an ordinary feature of American life," they added.The Survey Center report provides additional evidence for something several experts have been saying in recent years: Americans <a target="_blank" href="https://www.businessinsider.com/death-casual-fringe-friendships-gen-z-sad-jobs-alone-2024-2">aren't making friends</a> like they used to and are <a target="_blank" href="https://www.businessinsider.com/weekends-feel-different-post-pandemic-isolation-loneliness-economy-tiktokers-2024-1">spending more time alone</a>. Last year, US Surgeon General <a target="_blank" href="https://www.businessinsider.com/american-culture-social-individualism-loneliness-epidemic-2024-1">Vivek Murthy</a> said the US was facing an "epidemic of loneliness and isolation" and raised concerns about the physical and mental health consequences of this development.Declining participation in social institutions like marriage, insufficient access to public amenities like community centers, and financial challenges are among the reasons Americans without degrees could be having a particularly hard time making friends.To be sure, there's disagreement among experts about <a target="_blank" href="https://www.businessinsider.com/there-is-no-loneliness-epidemic-mental-health-2024-4">how much</a> Americans' social lives have changed in recent decades and the primary causes of this shift.<h2 id="687049e2-f7c3-4e53-8ad7-d9b9ceff8c38">It's getting harder for people without degrees to make friends</h2>In the past, marriage, religious organizations, and labor unions were key to providing social support for Americans. However, in recent decades, people have become less likely to <a target="_blank" href="https://www.businessinsider.com/americans-are-moving-less-social-demographic-changes-2022-8">marry</a>, join a <a target="_blank" href="https://www.businessinsider.com/union-households-pay-bump-median-wealth-fewer-race-gaps-2024-3">labor union</a>, and regularly attend a <a target="_blank" href="https://www.businessinsider.com/meet-the-nones-more-americans-religiously-unaffiliated-who-are-they-2024-1">place of worship</a>. This decline has been much steeper for Americans with lower levels of education, according to the Survey Center report.Additionally, non-college-educated Americans were also less likely to be members of nonreligious community groups like hobby or activity groups, community groups or neighborhood associations, and sports leagues or workout groups. In recent decades, Americans with degrees have continued to join these groups at "relatively high" rates, while those without degrees have become "increasingly unattached," according to the report."When all of these things start to come together, you're seeing the bottom fallout of these institutions that historically have provided a grounding of participation and connection in American life," Sam Pressler, coauthor of the report and practitioner fellow at the University of Virginia's Karsh Institute of Democracy, told Business Insider.At the same time, Pressler said there's a "pay to play" system in many Americans' social lives. Public spaces that have the potential to foster social connections often come with a financial cost, and this can benefit college graduates, who tend to earn <a target="_blank" href="https://www.bls.gov/emp/chart-unemployment-earnings-education.htm">higher wages</a> than <a target="_blank" class="" href="https://www.businessinsider.com/young-men-working-less-no-college-degree-student-loan-debt-2024-5">people without degrees</a>."You go to a coffee shop or you go to a bar or a restaurant, those things have dollar signs attached to them," he said. "You go and join a gym, you're going to Equinox or even the YMCA, that costs money."Even in free public spaces like libraries, community centers, and parks, the survey found that non-college-educated Americans were less likely to use them as a social gathering place. Pressler said one explanation for this could be that Americans with degrees were more likely to live in areas with extensive and high-quality public spaces and community groups."If you are out of those traditional structures, you have to do so much more work to schedule time with friends, to build relationships," he said. "All of the work gets put onto you."Additionally, people without a college degree may also be more likely to <a target="_blank" href="https://www.businessinsider.com/side-hustle-recommendations-jobs-to-try-this-year-concerts-surveys-2024-3">work multiple jobs</a>, or have roles with unpredictable hours, Pressler said. For example, he pointed to the <a target="_blank" href="https://www.businessinsider.com/gig-economy-trends-workers-delivery-ride-hailing-apps-uber-doordash-2023-7">rise of gig work</a> in recent years. Driving during nights and weekends — prime social hours — can be the most profitable for an <a target="_blank" href="https://www.businessinsider.com/nyc-uber-and-lyft-driver-who-only-drives-at-night-2022-7">Uber or Lyft driver</a> who's looking to earn some extra cash."If you don't know what your schedule is going to be in a week or two weeks if you are working several jobs, it's very hard to imagine being able to plan to participate in community or spend time with family and build those relationships," Pressler said.For some people, the workplace can provide another opportunity to make friends. In 2022, <a target="_blank" class="" href="https://www.businessinsider.com/millennial-working-from-home-office-misses-friends-loneliness-remote-2024-6">over half</a> of respondents told the Survey Center that they'd met a close friend through their work or a spouse's work. However, college graduates were more likely to have done so.<h2 id="8fcf4dc4-64b7-407d-b2ef-24e5ba206c58">Going to college can be a "supercharger of relationships"</h2>Of course, some of the social benefits of a college degree date back to the connections fostered on campuses. Pressler said the college experience can be a "supercharger of relationships" and that people who don't pursue a degree — and go straight into the workforce for example — may not have the same social opportunities.Once students graduate, many of them move to cities where they can continue to build upon their college connections."You have potentially the leisure time and the discretionary income to participate in community life with other people who have college degrees and you're also involved and meshed in these networks of your fellow alum," Pressler said.On the whole, Pressler said that he thinks the financial and social benefits of a college degree have increased in recent decades, adding that the decline in some middle-class jobs — driven by factors that include <a target="_blank" class="" href="https://www.businessinsider.com/us-men-working-less-recessions-employment-productivity-2024-4">globalization and recessions</a> — is partly responsible for this.When young people decide whether to go to college, Pressler said he thinks many of them place significant value on the social benefits that can come with a college education. He said this is among the reasons many colleges' recruiting efforts — in an attempt to attract students — emphasize the clubs, Greek life, and sports on campus.But despite the social benefits, Pressler said this doesn't mean a college degree is for everyone."I don't think the answer is to necessarily get more young adults to go to college because of the adverse social consequences that we highlighted in our report," he said. "Rather, we should be aiming to mitigate — and, ideally, eliminate — the educational divide in civic life." While Pressler said there is no "silver bullet" solution for Americans' overall friendship decline — and the larger decline for people without degrees — he said there are several solutions worth considering.For example, he said housing and neighborhood policies could be better used to promote connection in communities."This could include everything from housing policies that promote more middle and social housing, to neighborhood policies that provide micro-grants for block parties, community dinners, sports leagues, and block clean-ups that bring neighbors together," he said.Did you go to college in large part for the expected social benefits? Are you willing to share your story? Reach out to this reporter at <a target="_blank" href="mailto:jzinkula@businessinsider.com">jzinkula@businessinsider.com</a>.

The hidden value of a college degree: Graduates are much more likely to have friends 

<ul><li>Shares of <keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> (India) Limited reached ₹6,692 at 11:56 a.m. on September 8.</li><li>The development coincides with ICICI Securities issuing a buy call on Info Edge (India) with a target price of ₹8,040.</li><li>The analyst expects increase in hiring, real estate rentals and wedding trends to fill Info Edge’s pockets in the near term.</li></ul>Sanjeev Bikhchandani-led Info Edge’s shares reached ₹6,692 at 11:56 a.m. This represents an increase of ₹509 in value compared to the previous close of ₹6,183 on September 7. Over the last one month, Info Edge’s share price has increased by 23%. Each share was valued at ₹5,368 on August 9 compared to ₹6,692 at 11:56 a.m. The development comes as ICICI Securities has issued a buy call on Info Edge (India) with a target price of ₹8,040 today. The analyst expects the share to reach the target price in a span of one year. The analyst had issued a similar buy call in June with a target price of ₹6,300. ICICI Securities have now revised the target as <keyword id="6740899" type="General" weightage="20" keywordseo="info-edge-shares" source="Orion">Info Edge shares</keyword> have crossed the said target. In its latest report on Info Edge, ICICI Securities has elaborated on the strong points that would lead the company’s stock price to increase. The broking house has also revised the estimated valuations of Info Edge and its subsidiaries. “We value Naukri at 75x [times] financial year 2023 estimates earnings per share. We value 99 Acres and Jeevansathi [Info Edge’s subsidiaries] each at 20x FY 2023 estimated sales. As elaborated in our report, our 1-year forward valuation of Zomato [a portfolio company of Info Edge] stands at $22 billion.” <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032580" hostid="261"></div> Meanwhile, Info Edge’s portfolio companies — Zomato and Info Edge — are also moving away from the ‘startup’ tag to a maturity stage. Zomato has already hit the public market and bought over <a href="https://www.businessinsider.in/stock-market/news/info-edges-remaining-stake-in-zomato-is-worth-15000-crore/articleshow/84668883.cms">₹15,000 crore</a> in return for Info Edge, PolicyBazaar has filed <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">preliminary papers</a> to go public soon. Further Info Edge invested in another <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms">initial public offering (IPO)</a>-bound company ixigo in July. Key points working in favour of Info Edge <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032598" hostid="261"></div> Strong hiring could benefit Naukri.com Trends in other markets like the US, which publish job market data periodically, hint towards a significant demand-supply mismatch when it comes to hiring. In India, entrepreneurship, preference to work in startups and flexibility of workplace are going to be biggest drivers of this demand-supply mismatch in hiring, as per ICICI Securities. This is likely to benefit job search platforms like Naukri.com for the next 12-18 months. Vibrant job market will push more people to move out ICICI Securities in its latest report noted that several new trends have emerged in the proptech segment — low interest rate, strong pipeline, print to online shift in advertising, recent direct-to-customer (D2C) approach taken by builders to drive traction in online real estate classifieds. The brokerage firm predicted the spike in paid listing going ahead, which will enable Info Edge-owned 99acre.com’s EBITDA [earnings before interest, taxes, depreciation, and amortisation] profitability to exceed the street estimates. ICICI Securities, however, also noted that competitive intensity is one of the key reasons for the suboptimal profitability in this segment for Info Edge. Besides this, the decline of funding in the real estate segment is also pushing Info Edge’s competition to reduce cash burn. “Nevertheless, the full stack aspirations of competitors like Square Yards is a key risk to watch out for,” the report added. Matchmaking is back on the table Easing of lockdown restrictions and best-in-a-decade job security will encourage more people to look for their partners on matchmaking platforms. ICICI Securities is anticipating a sharp increase in paid listings in the near term to also drive EBITDA profitability, in FY23. This will be a surprise to the current street expectation, the ICICI Securities added. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-policybazaar-investor-info-edge-invested-in-nearly-2-startups-every-month-in-2021/articleshow/86028438.cms">Zomato, PolicyBazaar investor Info Edge invested in nearly 2 startups every month in 2021</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-bags-another-150-million-to-fund-its-acquisition-spree/articleshow/86027937.cms">Byju’s bags another $150 million to fund its acquisition spree</a> <a href="https://www.businessinsider.in/business/startups/news/zoho-corp-invests-5-million-in-medical-devices-startup-voxelgrids/articleshow/86000656.cms">Zoho Corp invests $5 million in medical devices startup Voxelgrids</a>

Here is why Naukri parent Info Edge’s stock went up 23% in the last one month

<ul class="summary-list"><li>Three high-earners quit six-figure jobs to prioritize their mental health.</li><li>They said they struggled to manage high-pressure workdays and a lack of support.</li></ul><a target="_blank" href="https://www.businessinsider.com/middle-class-lifestyle-six-figure-salary-economy-2024-5">Six-figure salaries</a> can come with extremely demanding workloads and higher stakes. This can feel unmanageable <a target="_blank" href="https://www.businessinsider.com/signs-of-toxic-workplace-how-identify-spot-interview-2024-3">without a supportive work environment</a>, and in some cases, employees are left to choose between their paycheck or their mental health.Business Insider spoke with three high-earners who left their six-figure jobs to save their <a target="_blank" href="https://www.businessinsider.com/how-to-deal-with-stress-burnout-work-mental-health-professional-2023-11">mental health.</a> They each started their careers eager to make a splash in their industry but said they were quickly disillusioned by high-pressure, exhausting workdays and tough feedback.When their mental health plummeted, they felt they had no choice but to quit.<h2 id="89566fd1-d898-4b73-b6e4-3ee71a0c42ab">Jean Kang was overwhelmed by her company's 'hustle culture'</h2>Thirty-one-year-old <a target="_blank" href="https://www.businessinsider.com/quit-big-tech-dream-job-pay-perks-not-worth-it-2024-5?r=six-figure-burnout-lp">Jean Kang</a> initially loved the perks and six-figure salaries that came with her different jobs in Big Tech."I was <a target="_blank" href="https://www.businessinsider.com/cool-perks-offered-companies-employees-airbnb-patagonia-adobe-2023-9">spoiled with tech benefits</a> in every role — great pay, free food, remote work, gym memberships, massages, and more," Kang told BI.Despite the amazing perks, Kang said she felt immense pressure to overdeliver and outperform competitors — a virtue of the "<a target="_blank" href="https://www.businessinsider.com/moved-from-us-europe-escape-american-hustle-culture-2023-11">hustle culture</a>" that dominated her workplace. Kang said she struggled with the realization that she'd given her life to jobs that were ultimately just making big companies more money.After a <a target="_blank" href="https://www.businessinsider.com/workers-laid-off-remotely-poor-etiquette-impersonal-stellantis-jeep-2024-3">mass layoff</a> in 2023 forced her to acknowledge the fragility of her job, Kang saw an opportunity to leave Big Tech for good. She said she'd been juggling a few side hustles after work and finally took a risk on herself by leaving her $300,000 paycheck to become a full-time content creator and career coach."My biggest fear was failing, but I knew I'd regret not betting on myself and could always land another job after I tried this," Kang said.She shared that her anxiety and "<a target="_blank" href="https://www.businessinsider.com/4-day-week-sunday-scaries-decrease-improved-work-life-balance-2023-5">Sunday scaries</a>" disappeared once she became her own boss. She said working a flexible, remote job has been liberating."I now choose what projects make me happy and don't give myself too much pressure to succeed. I work 30 to 40 hours and some weekends now, but not because I have to — I want to."<h2 id="f8f2e822-d733-4fff-abd3-185897332c41">Eric Yu suffered from panic attacks at work for 6 months</h2>Twenty-eight-year-old <a target="_blank" href="https://www.businessinsider.com/quit-meta-tech-job-after-panic-attacks-anxiety-low-point-2023-10?r=six-figure-burnout-lp">Eric Yu</a> told BI that he spent his first two years working at Facebook as a starry-eyed recent grad excited to be pursuing a career in tech. But as the novelty faded, he said anxiety took its place.Long work days of intense coding turned into <a target="_blank" href="https://www.businessinsider.com/how-to-stop-thinking-about-work-2015-12">long nights of worrying</a> about what needed to get done. He said he stayed late to finish tasks but still faced tough criticism from engineers. He told BI that he started experiencing <a target="_blank" href="https://www.businessinsider.com/remote-work-fueling-gen-z-job-anxiety-stress-mental-health-2023-12">panic attacks</a> that continued for six debilitating months."I was at the lowest point in my life. Every day felt like a grind — I didn't know what I was doing or why I was still working," Yu said.He said it wasn't until his boss seriously questioned his work output that he made a pledge to himself to quit tech. After brainstorming alternative income streams with his fiancée, Wanda, he quit his job and settled on house hacking."I know it sounds crazy to leave a $370,000 job, and staying at Meta for the rest of my life would have ensured financial security, but I knew it wasn't right for me."He's now making passive income from real estate and using his extra time to explore what he really wants in life.<h2 id="b74c869b-b41f-43f2-b9ec-f0e037c6a58f">A former McKinsey employee had to go on mental-health disability leave</h2>A <a target="_blank" href="https://www.businessinsider.com/mckinsey-consultant-quit-mental-health-shattered-2024-4?r=six-figure-burnout-lp">former McKinsey employee</a>, who asked to remain anonymous because of privacy concerns, told BI that he knew his associate role would be tough. Still, he said he was willing to stick it out to sharpen his analytical skills. He didn't expect, however, the all-consuming nature of his work.He told BI he worked 16-hour shifts at a job with <a target="_blank" href="https://www.businessinsider.com/mckinsey-jobs-performance-rating-layoffs-job-search-2024-5">extremely high expectations</a> but a lack of mentorship and had to deal with mean coworkers."And it was <a target="_blank" href="https://www.businessinsider.com/burnout-consulting-firms-deloitte-pwc-big-four-2021-4">pedal to the metal</a> — I didn't leave my desk, forgot to eat, and dropped tons of weight," he said. "I barely remembered to go to the bathroom. I only remembered to get up when I noticed my dog looking at me sadly."He said that after a year, he reached his breaking point."It was literally <a target="_blank" href="https://www.businessinsider.com/all-the-signs-that-your-job-is-wreaking-havoc-on-your-mental-health-2017-11">driving me to the edge</a>. I just couldn't do it anymore. I was crying more and <a target="_blank" href="https://www.businessinsider.com/should-i-take-medication-for-anxiety-2018-11">taking anxiety medication</a> at a higher dosage than I had ever needed before joining," he said.Despite his $200,000 salary, he decided to take a three-month mental-health disability leave.He said his time away from work only confirmed the severity of his condition when he found it difficult to take care of himself or even leave his home. He decided to quit McKinsey to focus on his mental health.A year after quitting, he said his mental health improved and he's ready to reenter the workforce."As I look for a new job, I'm looking for <a target="_blank" href="https://www.businessinsider.com/best-company-culture-companies-comparably-2022-12">companies that care about their employees</a>, value inclusivity, and treat everyone with respect."If you quit your job due to mental health concerns and would like to tell your story, email Tess Martinelli at <a target="_blank" href="mailto:tmartinelli@businessinsider.com">tmartinelli@businessinsider.com</a>.

3 high-earners share when they knew it was time to quit their 6-figure jobs:  'It was literally driving me to the edge'

<ul class="summary-list"><li>Chinese electric vehicle makers hit record sales in June, challenging Tesla's dominance.</li><li>BYD, Nio, and Zeekr saw significant year-over-year growth despite US and EU tariff concerns.</li></ul>Three <a target="_blank" href="https://www.businessinsider.com/byd-saic-chinese-ev-makers-plot-world-takeover-2024-6">Chinese electric vehicle makers </a>hit record sales numbers at the end of June, which could spell trouble for Tesla.China's <a target="_blank" href="https://www.businessinsider.com/how-chinese-automaker-byd-rose-to-challenge-tesla-2024-4#the-company-was-originally-a-cellphone-battery-manufacturer-2">biggest EV manufacturer, BYD</a>, sold nearly 1 million electric and hybrid cars in the second quarter of the year, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-01/byd-sales-rise-to-a-record-on-price-cuts-tech-upgrades?srnd=markets-vp">calculated</a>. During the same period, Nio said it delivered over 57,000 vehicles — a 144% year-over-year rise.Geely Automotive-owned Zeekr, which listed in the US in May, had a record June with over 20,000 deliveries — an 89% year-on-year increase.Despite concerns about <a target="_blank" href="https://www.businessinsider.com/chinese-ev-companies-hit-with-new-tariffs-in-the-eu-2024-6">tariffs from the US and European Union, </a>sales for the three producers were <a target="_blank" href="https://www.businessinsider.com/tesla-newest-rival-in-china-is-teaching-a-tough-lesson-2024-4">boosted</a> by price cuts, the introduction of cheaper models, and Chinese EV <a target="_blank" href="https://uk.finance.yahoo.com/news/zeekrs-sales-jump-chinese-dominate-070320106.html">demand from Russia</a>, where Western competitors exited.These numbers may make Tesla, and its <a target="_blank" href="https://www.businessinsider.com/tesla-newest-rival-in-china-is-teaching-a-tough-lesson-2024-4">once-dismissive-of-Chinese-companies</a> CEO, nervous. The American EV giant announces its second-quarter deliveries on Tuesday. First-quarter numbers showed Tesla was hit by <a target="_blank" href="https://www.businessinsider.com/ev-batteries-ai-cars-transport-2024-6">waning EV demand</a>. Analysts expect a 6% decline in Tesla's total deliveries from April through June, Reuters <a target="_blank" href="https://www.reuters.com/business/autos-transportation/tesla-deliveries-set-fall-second-straight-quarter-2024-07-01/">reported</a> ahead of the official numbers. Tesla has made big moves to lure back customers and reassure investors this year.At the end of the first quarter, CEO Elon Musk entered the <a target="_blank" href="https://www.businessinsider.com/tesla-can-make-cars-cheaper-than-competitors-2024-6">EV price war </a>by <a target="_blank" href="https://www.businessinsider.com/tesla-slashes-prices-suv-cars-self-driving-software-before-earnings-2024-4">slashing prices</a> on select Tesla models. In the company's first-quarter earnings call, Tesla also announced a <a target="_blank" href="https://www.businessinsider.com/tesla-investors-cheaper-cars-soon-musk-said-earnings-stock-up-2024-4">much-awaited cheaper EV</a>. In late May, Tesla even offered Chinese customers a <a target="_blank" href="https://www.businessinsider.com/tesla-offering-chinese-clients-chance-win-free-tour-us-factory-2024-5">chance to tour its Fremont, California factory</a> if they bought a car this summer."The fundamentals for Tesla are in a tricky position right now, and we generally expect negative revisions," Barclays analyst Dan Levy told CNBC last month. One of the company's biggest challenges is flat volume growth, he said.Levy predicted an 11% drop in June-quarter deliveries, below analyst estimates.<h2 id="7e0024e6-96e6-4574-9136-97d655e5cd0f">The bullish case for Tesla</h2>Despite Chinese EV companies' strength, one analyst is confident that Tesla is set for a rebound amid growth in China and the Robotaxi's unveiling, planned for August."We have seen some signs of stabilization in pricing for Tesla over the past few months as it appears the lion's share of the price cuts are now in the rear-view mirror," Wedbush analyst Dan Ives wrote in a note on Friday.Ives, a Tesla bull, said that demand in key region China is showing signs of improving as customers realize that no more price cuts are coming.Moreover, analysts have long said some American EV companies' real value isn't the cars themselves, but rather technology that could be sold to other customers."We continue to believe that Tesla is more of an <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-humanoid-robot-optimus-becoming-mans-best-friend-2024-6">AI and robotics play </a>than a traditional car company," Ives wrote on Friday.The same is true for American competitor Rivian, which <a target="_blank" href="https://www.businessinsider.com/volkswagen-invests-5-billion-rivian-software-development-r2-suv-affordability-2024-6">recently announced</a> a $5 billion investment from Volkswagen .Software is one of Rivian's strengths, Goldman Sachs analysts noted in January — "a key part of the value proposition and monetization opportunity for Rivian."

Chinese EV makers had a great quarter, and it should put Tesla on edge

Info Edge, Bajaj Finance, Axis Bank and other stocks to watch out for on April 28

<ul><li>Info Edge is one of the earliest backers of Zomato, now valued $5.5 billion.</li><li>In a regulatory filing, Info Edge announced on Tuesday evening that it would sell ₹750 crore ($100 million) worth shares in Zomato’s IPO.</li><li>Further details would be shared with Zomato’s Draft Red Herring Prospectus, which the company is expected to file very soon.</li></ul>Info Edge announced on Tuesday evening that it would sell ₹750 crore ($100 million) worth shares in the upcoming initial public offering (IPO) of Zomato. The food delivery app is <a href="https://economictimes.indiatimes.com/tech/startups/info-edge-to-sell-rs-750-crore-zomato-shares-in-upcoming-ipo/articleshow/82278986.cms">likely</a> to be valued between $6-8 billion in its IPO. And the markets cheered the move – Info Edge share price was up by 2.5% in morning trade as of 9.20 am. However, later as of 9.57 am, it settled at ₹4994.5, a jump of 0.91%. <div type="image" title="INFO EDGE NEW" msid="82285680" hostid="261"></div> In a regulatory filing, Info Edge said, “The Board of Directors of the Company today considered and have given their approval to the Company to participate in the said Offer for Sale of up to such number of shares of Zomato Limited as would aggregate upto ₹7,500 million.” Further details would be shared with Zomato’s Draft Red Herring Prospectus, which the company is expected to file <a href="https://economictimes.indiatimes.com/tech/startups/info-edge-to-sell-rs-750-crore-zomato-shares-in-upcoming-ipo/articleshow/82278986.cms">very soon.</a> Info Edge, which holds as much as 20% stake in Zomato, has been one of the earliest backers of the company. “When we started investing there was no Softbank, we were in the mindset to start investing in businesses that we understand. One of the first companies we invested in was Zomato – the first cheque we wrote was for a million dollars. They used to do business listings – previews, menus, and we thought acha lag raha hain (looks good). It was not even called Zomato then it was called foodiebay,” Info Edge CEO Hitesh Oberoi had told Business Insider in an interview in 2019. Info Edge’s core business includes four internet firms that are spread across lucrative industries – recruitment portal Naukri.com, real estate aggregator 99acres.com, matrimony platform Jeevansaathi.com and edtech vertical Shiksha.com. SEE ALSO: <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-phase-3-registration-on-cowin-and-aarogya-setu-not-working-for-18-on-28-april-morning/articleshow/82284828.cms">COVID-19 vaccine phase 3: Anxious Indians are complaining of CoWIN and Aarogya Setu registration being delayed</a>

Info Edge shares jump by 2.5% as markets cheer its move to sell ₹750 crore worth shares in the upcoming Zomato IPO

<ul><li>The India’s oldest internet company plans to raise ₹1875 crore by selling shares to qualified institutional investors. </li><li>The stock has grown by 70% since the lockdown began in March.</li><li>Eventually, the 11% growth in annual consolidated revenue was much better than estimates. </li></ul>Info Edge stocks jumped over 5% in early trade on Tuesday (June 23) after a sharp fall in quarterly and a plan to raise more money through new shares issued to qualified institutional investors. The $5 billion company, which runs <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, Jeevansaath.com, 99acres.com and Shiksha.com, continues to be one of India’s largest internet companies. Investors had feared the company to perform a lot worse. So much so that a 60% fall in profit was better than expectation. <div type="image" title="info edge share latest." msid="76525158" hostid="261"></div> Better than what analysts expected <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">InfoEdge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial revenue estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1272.7 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Actual revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1416.3 crore </td></tr></tbody></table> One of the better bets Internet businesses are being seen <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">as some of the safer bets</a> amidst the global recession triggered by the COVID-19 pandemic. And InfoEdge is one of the big ones in that space. “We believe the crisis will expedite the offline to online transition of several small/large businesses that could help Info Edge deliver exceptional performance over the medium to long term due to its strong fundamentals and superior market positioning,” said the JM Financial report. Naukri’s India business, which makes for one-third of InfoEdge’s annual consolidated revenue, saw a year-on-year decline of collection by ₹14 crore in the fourth quarter of FY20 and it worsened in April with a decline of ₹26 crore as compared to the same month the previous year. But that was due to the lockdown. Just before that, Naukri was growing at 13% (year-on-year) until mid March, according to the company. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-March 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue growth (YoY) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit growth (YoY) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Naukri.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">99acres.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss shrinks to a third </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss has doubled </td></tr></tbody></table> And the promoters are cashing in. The company is set to raise ₹1875 crore through Qualified institutional placement i.e. selling new equity shares to big institutions. The internet company’s bid to raise funds through the unique method if successful will make it the <a href="https://www.livemint.com/news/india/info-edge-board-approves-raising-up-to-rs1-875-crore-through-qip-11592883581371.html">third company </a>(after Kotak Mahindra Bank and JM Financial) to raise capital through QIP since March this year. SEE ALSO: <a href="https://www.businessinsider.in/business/news/donald-trumps-h-1b-visa-ban-incites-a-sharp-reaction-from-indian-tech-company-like-wipro-tcs-infosys-tech-mahindra/articleshow/76524525.cms">Donald Trump's H-1B visa ban incites a sharp reaction from India's tech lobby</a> <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">HCL Tech, InfoEdge, Biocon and their peers may be safe stocks to hide for the rest of 2020</a>

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