IndiaMART InterMESH shares surged 10% on strong Q4 results despite target price cuts. Stock hit day s high of ₹2,913, up 21.6% from 52-week low. Company s net profit rose 79% YoY in Q4FY24 to ₹99.6 crore.
IndiaMART s stock has experienced a decline of over 3 percent in the last month, contrasting with the 3 percent increase observed in the benchmark Sensex.
Indiamart Q3: Kotak cut its FY24-26 EPS by 3 per cent to bake in lower supplier addition. It assumed weaker longer-term margins due to continued investments needed to keep the platform relevant.
Indiamart Intermesh has approved buyback of 12.5 lakh Indiamart Intermesh shares at a price of Rs 4,000 apiece for an aggregate amount not exceeding Rs 500 crore
Indiamart share buyback: JM Financial expects promoters to participate in the buyback offer. Given the buyback size, it will require shareholders’ approval, the brokerage said.