Sharekhan recommended Hold rating on Info Edge (India) with a target price of Rs 2700 in its research report dated November 13, 2019.
Sharekhan's research report on Info Edge (India)
Strong revenue growth of 19.5% y-o-y, led by broad-based growth across businesses; EBITDA margin declined to 29.4% (on a comparable basis) owing to higher interments and an increase in ad-spends Growth in recruitment business could taper-off owing to slowdown in non-IT hiring.Billings growth in 99acres could moderate in the medium term owing to macro headwinds The Management does not foresee any threat in Zomato business from the new entry in the online food delivery space.
We retain our Hold rating on Info Edge (India) Limited (Info Edge) with a revised PT of Rs. 2,700; increased EPS given benefits from corporate tax cut.
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