Info Edge (India) rises most in over 3-wks on positive growth view

Info Edge (India)

17/03/2023 07:50

** Shares of Info Edge (India) Ltd  INED.NS  rise as much as
2.4% to 3,508.8 rupees, biggest intraday pct. gain since Feb. 21
    ** Analysts from Nomura say INED's recruitment business,
Naukri, saw strong demand in non-tech sectors such as infra,
healthcare, education, and offline retail
    ** Research firms rates INED at "buy" with TP of 4,940
rupees 
    ** Adds, "Jeevansathi vertical continues to yield increase
in traffic, plan to focus on monetise traffic later"
    ** "Believe it will be awhile before INED's 99acres business
sees real consolidation due to competitive intensity in the
industry" - Nomura
    ** INED intends to continue investments in Zomato Ltd
 ZOMT.NS  and PolicyBazaar as long as underlying business has
potential to grow and create value - Nomura
    ** Trading volume at ~150,300 shares as of 1:04 p.m. IST 
    ** Eleven of the 21 analysts covering the stock have a "buy"
or higher rating, six has "hold" while four rate it at "sell";
median PT is 4,500 rupees - Refinitiv data
    ** Up to last close, stock was down 12.9% so far this year


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))