Buy IndiaMART InterMESH, target price Rs 10000: IIFL

IIFL has buy call on IndiaMART InterMESH with a target price of Rs 10000.The current market price of IndiaMART InterMESH is Rs 9483.3.

Time period given by analyst is Intra Day when IndiaMART InterMESH Ltd. price can reach defined target. .

IndiaMART InterMESH Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 28804.97 Crore) operating in Services sector.


IndiaMART InterMESH Ltd. key Products/Revenue Segments include Income From Information Services for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 211.00 Crore, up 10.99 % from last quarter Total Income of Rs 190.10 Crore and up 12.96 % from last year same quarter Total Income of Rs 186.80 Crore. Company reported net profit after tax of Rs 89.40 Crore in latest quarter.

Investment Rationale
Stock has given an inverse head & shoulder breakout on the daily chart

Promoter/FII Holdings
Promoters held 49.82 per cent stake in the company as of 30-Jun-2021, while FIIs owned 26.68 per cent, DIIs 4.71 per cent.