Buy Info Edge (India), target Rs 1,430: JM Financial

JM Financial has a buy call on Info Edge (India) with a target price of Rs 1,430.

The current market price of Info Edge (India) is Rs 1,401.95.

Time period given by the brokerage is one year when Info Edge (India) price can reach the defined target.


"Info Edge’s (INFOE) 1QFY19 results point to a return to the normal growth curve with a pick-up in billing in the core recruitment business (Naukri) led by a revival in the mainstay IT vertical + continued momentum in the real-estate business (99acres). Deferred revenues were up 19% YoY suggesting normalization of the drag from demonetization and regulatory changes on INFOE’s businesses. Thus, while we expect A&P spend to remain elevated in the medium term (to gain market share as the demand revives), revenue recovery should lead to both earning growth acceleration and an improved cash-generation. We raise FY19/FY20 EPS estimates by 1%/2%; our SOTP-based PT moves to Rs 1,430 (Rs 1,420 earlier)," JM Financial said in a report.