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.
Outlook
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
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