Buy Info Edge (India): target of Rs 6100: Sharekhan
Sharekhan is bullish on Info Edge (India) has recommended buy rating on the stock with a target price of Rs 6100 in its research report dated April 06, 2021.
April 07, 2021 / 04:20 PM IST
Sharekhan's research report on Info Edge (India)
We believe Info Edge continues its trend of sequential recovery across all its operating segments in Q4FY2021. Overall billings likely to achieve pre-COVID level, aided by strong traffic recovery across its platforms. Though expansion of the food delivery business by Amazon is likely to increase competition, we believe Zomato’s end-to-end services are well poised to capture its share in the expanding online food delivery market in India. We continue to like Info Edge given its dominant position in online classifieds, proactive in its new product offerings, a strong balance sheet, and prudent capital allocation.
We maintain Buy on Info Edge (India) Limited with a PT of Rs. 6,100, given improving macro environment and strong prospects of its investee companies. Recent stock price correction provides a good entry point to investors from a long-term perspective.
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