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 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.
After 10x return in 2 years, IndiaMart has rude awakening; price targets cut
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The challenges appear to be harsh, as many medium- and small-scale businesses take a hard knock from the lockdown imposed by various states.
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NEW DELHI: As the Covid-19 pandemic tightens its grip on the domestic market, the euphoria over the proxy plays on the Internet theme is fizzling out.
The challenges appear to be harsh, as many medium- and small-scale businesses take a hard knock from the lockdown imposed by various states.
The IndiaMART Intermesh stock has fallen victim to such a perception among investors. Analysts say the country’s only listed B2B marketplace player is facing near-term challenges in the face of the dark clouds looming over the medium and small enterprises, who form bulk of its client base.