Shares of Info Edge rose 3.86% to ₹7,820.35 in early trade, making it the top gainer in the F&O segment. The surge follows Goldman Sachs’ decision to upgrade the stock to “Buy” from “Sell” and raise the target price to ₹8,600 from ₹5,700.
The brokerage believes that the demand environment for Indian IT is showing incremental improvement, which is expected to accelerate the company’s recruitment segment revenues to a 16% CAGR for FY25-FY28, compared to 8% during FY23-FY25.
Disclaimer: This report is for informational purposes only and should not be considered investment advice. Please consult a financial advisor before making investment decisions.
