IIFL Securities Stock Idea: Buy Info Edge (I) with Target Rs 6200

IIFL Securities has issued a buy recommendation for Info Edge (I), with a target price of Rs 6200. This represents a potential upside of over 2.7% from the current market price of Rs 6035.7. The brokerage firm cites the company's strong fundamentals, including its leading position in the online recruitment and classifieds markets, as well as its expanding presence in the digital payments sector, as key drivers for its bullish outlook.

About Info Edge (I):

Info Edge (I) Ltd. is a leading internet conglomerate in India, listed on the National Stock Exchange (NSE). The company owns and operates popular online platforms such as Naukri.com (job search), Jeevansathi.com (matrimonial services), 99acres.com (real estate), and Zomato (food delivery). Info Edge also has investments in other internet ventures like PolicyBazaar, Myntra, and Zomato. With a strong portfolio of online businesses, Info Edge has established itself as a major player in the Indian digital ecosystem.

52 Week Price Trend:

Info Edge (India) Ltd. (NSE: NAUKRI) is currently trading at Rs 6035.7, close to its 52-week high of Rs 5545. This indicates a strong upward trend in the stock's value over the past year. However, it is also important to note that the stock has fluctuated significantly during this period, with a 52-week low of Rs 3308.2. Investors should therefore consider both the current price and the historical volatility when making investment decisions.

Stratzy's MOST Analysis:

NAUKRI has been rated BB- by Stratzy's MOST framework, which assesses stocks based on Management, Outlook, Safety, and Trend. This rating indicates that NAUKRI has medium fundamental risks. The framework evaluates management effectiveness, growth prospects, financial stability, and market momentum. The BB- rating suggests that while NAUKRI has some strengths in these areas, there are also some concerns that investors should consider before making investment decisions.

Company's Fundamentals:

Info Edge (NSE:NAUKRI) is a technology company known for its job portal Naukri.com. Its stock valuation is characterized by a high Stock PE of 321.78, indicating that investors expect strong future growth. The PB Ratio of 3.45 suggests that the stock is trading at a premium compared to its book value. Conversely, the Dividend Yield of 0.36% indicates a relatively low dividend payout, suggesting that the company reinvests profits for growth rather than distributing them to shareholders.

Fundamental and Technical information provided in this blog were last updated on 09 May, 2024

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