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Last Updated : Aug 16, 2019 03:27 PM IST | Source:

Hold Info Edge (India); target of Rs 2160: ICICI Direct

ICICI Direct recommended hold rating on Info Edge (India) with a target price of Rs 2160 in its research report dated August 14, 2019.

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ICICI Direct's research report on Info Edge (India)

Info Edge (Info) reported healthy revenue growth of 20.5% QoQ mainly led by 34.6% YoY growth in 99 Acres and 19.2% YoY growth in the recruitment business. However, normalised EBITDA margins (without Ind-AS 116 impact) dipped 80 bps QoQ to 30.4% due to higher advertising expenses predominantly in Naukri and Jeevansathi verticals. Although the current stock price factors in most of the positives, we like the company’s business model considering it is a quasi-play on India’s booming startup economy and prudent capital allocation.


Hence, we maintain our HOLD recommendation on the stock and value the stock on an SOTP basis to arrive at a target price of Rs 2160/share.

For all recommendations report, click here

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First Published on Aug 16, 2019 03:27 pm
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