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Buy Info Edge India; target of Rs 4865: Geojit

Geojit is bullish on Info Edge India has recommended buy rating on the stock with a target price of Rs 4865 in its research report dated June 21, 2022.

June 22, 2022 / 02:53 PM IST
The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

 
 
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Geojit's research report on Info Edge India


Info Edge (India) Limited is engaged in online classified business. Company operates an online job portal Naukri.com, matrimony website Jeevansathi.com, real estate search portal 99Acres.com and an educational website Shiksha.com. Q4FY22 revenue grew 57.4% YoY to Rs. 473cr (+12.2% QoQ). And 40.9% in FY22 to Rs. 1589cr, driven by tailwinds in recruitment and real estate verticals. Total Billings for the quarter were up 52.5% YoY at Rs. 649.3cr while that for FY22 were up 58.7% at Rs. 1,866cr. Q4FY22 EBITDA grew 191.2% YoY (+49.4% QoQ), as EBITDA margin expanded 3,360bps YoY to 73.2% (+1,822bps QoQ). Reported PAT of Rs. 12,882cr (+808.5% YoY) in FY22 •



Outlook


Company delivered solid results and we expect the demand to increase as tailwinds from Recruitment business to continue and looking at revival of demand in Real estate market, we reiterate our BUY rating on the stock with a revised target price of Rs. 4,865 based on SOTP valuation.

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At 14:50 hrs Info Edge India was quoting at Rs 3,646.25, down Rs 27.00, or 0.74 percent.

It has touched an intraday high of Rs 3,684.90 and an intraday low of Rs 3,534.00.

It was trading with volumes of 9,367 shares, compared to its thirty day average of 24,630 shares, a decrease of -61.97 percent.

In the previous trading session, the share closed up 2.20 percent or Rs 79.00 at Rs 3,673.25.

The share touched its 52-week high Rs 7,462.95 and 52-week low Rs 3,314.00 on 19 October, 2021 and 26 May, 2022, respectively.

Currently, it is trading 51.14 percent below its 52-week high and 10.03 percent above its 52-week low.

Market capitalisation stands at Rs 47,030.83 crore.

For all recommendations report, click here


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first published: Jun 22, 2022 02:53 pm
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