IndiaMART Intermesh witnesses a remarkable surge of over 5% in its stock value.Jefferies, a renowned global brokerage firm, projects a 'buy' call with a target price of Rs 3,400 per share, indicating a potential upside of over 27%.
Key Insights from Jefferies Analysis
Jefferies predicts a significant increase in IndiaMART's paid subscriber additions, doubling from 3,000 in FY24E to 6,000 in FY25E, addressing investors' concerns about slow growth and execution challenges.
IndiaMART's performance, despite a 3% decline, is compared to the Sensex's 3% rise, with anticipated growth in subscriber base and revenue.
IndiaMART's Growth Trajectory
IndiaMART Intermesh, a leading online marketplace player, is projected to experience a robust 19% to 25% CAGR in revenue and EPS over FY24-26, offering a compelling investment opportunity.