Budget 2023Budget 2023


  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Hold Intellect Design Arena; target of Rs 525: ICICI Direct

ICICI Direct recommended hold rating on Intellect Design Arena with a target price of Rs 525 in its research report dated October 30, 2022.

November 01, 2022 / 06:25 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Intellect Design Arena

Intellect Design Arena (Intellect) provides software products to retail, corporate banking, insurance & treasury. Intellect is in a transition from a product company to a platform company • The company generates 55% of revenues from developed markets and the rest from emerging markets • Recently, it saw a turnaround in margins (from 5% in FY20 to 25.1% in FY22).


We change our rating on the stock from BUY to HOLD. We value Intellect at Rs 525 i.e. 18x P/E on FY25E.