IndiaMART InterMESH rises as Q3 profit surges

IndiaMART InterMESH

20/01/2023 04:32

** Shares of IndiaMART InterMESH Ltd  INMR.Ns  up as much as
4.9% to 4,698.35 rupees, touching their highest level since Nov.
17, 2022
    ** The stock posts its biggest intraday pct gain since Dec.
19, 2022
    ** The e-marketing co on Thursday said its Dec-qtr profit
rose ~61% Y/Y to 1.13 bln rupees ($13.91 million)
    ** INMR's revenue from operations rose ~34% Y/Y to 2.51 bln
rupees 
    ** More than 140,849 shares change hands by 09:53 a.m. IST,
2.1x the 30-day moving avg
    ** Nine of 12 analysts covering the stock have a "buy" or
"strong buy" rating, one suggests "hold," while two rate it at
"sell" or "strong sell"; median PT is 5,180 rupees - Refinitiv
data
    ** Stock fell ~33% last year
($1 = 81.2460 Indian rupees)
 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))