Buy Intellect Design Arena: target of Rs 660: Sharekhan
Sharekhan is bullish on Intellect Design Arena has recommended buy rating on the stock with a target price of Rs 660 in its research report dated March 17, 2021.
March 18, 2021 / 02:00 PM IST
Sharekhan's research report on Intellect Design Arena
On its Technology Day 2021, Intellect Design Arena Limited highlighted its varied capabilities for flagship products in iGTB and retail banking. Management expects strong growth in its Intellect SEEC platform. Huge growth opportunities in five iGTB products as management expects customers count to increase to 150 by 2026 from 94 in 2021; market share to grow from 6% to 21%. Huge addressable market, strong traction for mature products, rising annuity revenues and improving margins would help company clock a revenue and earnings CAGR of 14% and 27%, respectively over FY2021-23E.
We maintain a Buy with a revised PT of Rs. 660 as it is well-poised to gain market share given future-ready products with flexible modules.
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