Buy Info Edge (India), target price Rs 5850: Yes Securities

Yes Securities has buy call on Info Edge (India) with a target price of Rs 5850. The current market price of Info Edge (India) Ltd. is Rs 5424.3. Time period given by analyst is Intra Day when Info Edge (India) Ltd. price can reach defined target.

Info Edge (India) Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 69886.63 Crore) operating in Services sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 359.33 Crore, up 15.39 % from last quarter Total Income of Rs 311.42 Crore and up 2.78 % from last year same quarter Total Income of Rs 349.60 Crore. Company reported net profit after tax of Rs 332.65 Crore in latest quarter.


Investment Rationale
The stock is on the verge of a breakout from a trendline resistance formed joining recent highs. Further, a sustained trade beyond Rs 5,600 will take the stock to its previous high of Rs 5,850. RSI is also suggesting bullishness going forward.

Promoter/FII Holdings
Promoters held 38.4 per cent stake in the company as of March 31, 2021, while FIIs held 39.6 per cent, DIIs 11 per cent and public and others 11 per cent.