Buy Info Edge (India), target price Rs 7220: Edelweiss

Edelweiss has buy call on Info Edge (India) Ltd. with a target price of Rs 7220. The current market price of Info Edge (India) Ltd. is Rs 6756.45. 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 86999.47 Crore) operating in Services sector.

Info Edge (India) Ltd. key Products/Revenue Segments include Sale of 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 380.14 Crore, up 5.79 % from last quarter Total Income of Rs 359.33 Crore and up 23.07 % from last year same quarter Total Income of Rs 308.89 Crore. Company reported net profit after tax of Rs 251.30 Crore in latest quarter.

Investment Rationale
After a steep rally, the stock has gone sideways. Momentum indicators are hinting at an upmove.

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.