Buy Info Edge (I): IIFL Securities's Target Price Rs 6620

IIFL Securities has recommended a buy call for Info Edge (I) Ltd., a leading internet conglomerate, at the current market price of Rs 6510. The brokerage firm has set a target price of Rs 6620, indicating a potential upside of 1.7%. The call is based on the company's strong financial performance and the growth prospects of its core businesses, including Naukri.com, 99acres.com, and Zomato. IIFL Securities expects continued growth in the online recruitment, real estate, and food delivery sectors, driven by increasing internet penetration and digital adoption in India.

About Info Edge (I):

Info Edge (India) Limited is a leading internet conglomerate in India. It operates top online platforms such as Naukri.com for job seekers and employers, 99acres.com for real estate, Jeevansathi.com for matchmaking, Shiksha.com for education, and Zomato for food delivery. The company also owns Quadria Capital, an investment management firm focused on private equity and venture capital. Info Edge is known for its innovative products and services, and has played a significant role in the growth of the internet economy in India.

52 Week Price Trend:

Info Edge (India)'s current market price (CMP) of Rs 6510.05 reflects a significant surge compared to its 52-week high of Rs 5545. This indicates that the stock has witnessed a consistent uptrend in recent times. However, it is important to note that the stock's 52-week low of Rs 3308.2 highlights its potential for fluctuations. Investors considering Info Edge should carefully evaluate its performance, market conditions, and future prospects before making investment decisions. Market sentiments, industry trends, and overall economic conditions can impact the stock's price, making it essential to conduct thorough research and consult financial experts.

Stratzy's MOST Analysis:

Naukri, a leading Indian job portal, has received a BB- rating from Stratzy's MOST framework, indicating medium fundamental risks. The MOST framework evaluates companies based on Management, Outlook, Safety, and Trend. Naukri's rating suggests that it faces moderate risks in at least one of these areas. While the specific reasons for this rating are not provided, factors such as competition, regulatory changes, or market fluctuations could contribute to the medium risk assessment.

Company's Fundamentals:

Info Edge (I), known for its online recruitment platform Naukri.com, exhibits key financial metrics as of the latest available data. Its Stock PE, or price-to-earnings ratio, stands at 321.78, indicating that the stock is priced at 321.78 times its earnings per share. The PB Ratio, or price-to-book ratio, of 3.45 implies that the stock's market value is 3.45 times its book value. Lastly, the Dividend Yield of 0.36% represents the annual dividend payment as a percentage of the current stock price, indicating a relatively low dividend payout ratio. These metrics provide insights into Info Edge's valuation, profitability, and dividend policy, offering a snapshot of its financial performance.

Fundamental and Technical information provided in this blog were last updated on 22 Jun, 2024

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