Info Edge (India) Limited witnessed a significant rise in its share price today, climbing 5.4% to ₹7,921.55, 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 revise the target price to ₹8,600 from ₹5,700. This led to a market capitalization increase of ₹5,256 crore, bringing the total market cap to ₹1,02,650.71 crore.
Key Highlights
- Opening surge: The stock opened at ₹7,699.40 and hit an intraday high of ₹7,970.
- Volume traded: Around 4.15 lakh shares were traded, amounting to a traded value of ₹326.72 crore.
- Brokerage outlook: Goldman Sachs anticipates Info Edge’s recruitment segment revenues to grow at a 16% CAGR for FY25-FY28, compared to 8% during FY23-FY25, driven by an improving Indian IT demand environment.
Investor Sentiment
The market reacted positively to the upgraded outlook, underpinned by the potential for accelerated revenue growth in its core segments. The revised price target and improved demand environment indicate strong growth prospects for the company.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
