IndiaMART InterMESH gains 98% in 2 months
Published On: Wednesday, September 2, 2020 | By: Team KnowMyStock
Shares of IndiaMART InterMESH gained 9 per cent, hitting a new high of Rs 4,189, on the BSE in the intra-day trade on Wednesday on the expectation of strong earnings outlook . The stock was trading higher for the third straight day in an otherwise weak market.In the past two months, the stock has gained 98 per cent reporting strong operational performance for the quarter ended June 2020. The leading E-commerce company caters to the business-to-business model and has seen rapid growth since getting listed on the stock exchanges a year ago. It has disinvested 70 per cent stake in the equity share capital of 10 times to Mayank Chowdhary and Atul Todi for Rs 21.17 lakh.IndiaMART is a dominant market leader in the online B2B Classifieds industry with over 70% market share, catering to a large audience spread over 1000 cities. Total revenue from operations during the quarter grew 4 per cent year on year (YoY) at Rs 153 crore.
The company’s consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) margins increased to 48 per cent in Q1FY21 from 25 per cent in Q1FY20. Brokerage and research firm have given buy call on Indiamart as underlying market is expected to grow at a 25% CAGR over the next five years,
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
