Sharekhan recommended Hold rating on Info Edge (India) with a target price of Rs 2350 in its research report dated June 11, 2019.
Sharekhan's research report on Info Edge (India)
Naukri’s growth momentum likely to continue, led by IT hiring, while margins will remain under pressure owing to higher spends on promotions and technology upgradation. Higher revenue growth in 99acres and lower ad spends in Jeevansathi to reduce losses in the coming 2-3 years. Zomato is rapidly scaling up its operations in cities; currently operates in 310 cities, up from 200+/15 cities in FY2019/FY2018.
We downgrade our rating on Info Edge (India) Limited (Info Edge) to Hold with a revised PT of Rs. 2,350, given the sharp run-up in its stock price over the past 15 days.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .