Hold Info Edge; target of Rs 2350: Sharekhan
Sharekhan’s research report on Info Edge
Investments in product and advertising to continue across all businesses to gain market share. Recruitment business likely to maintain growth momentum, led by IT hiring; billings growth in 99acres could moderate in the medium term owing to ongoing liquidity issues. Reported strong revenue growth led by healthy growth in recruitment and 99acres, while margins missed the mark owing to investments in product and advertising.
We retain our Hold rating on Info Edge (India) Limited (Info Edge) with a PT of Rs. 2,350.
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