0

0

0

0

0

0

0

0

0

This article is more than 2 year old.

This Nifty Midcap100 stock gives 50% returns this year despite market headwinds

Mini

The only Nifty Midcap100 that rose 50 percent this year is Info Edge. The stock in last one year has delivered 54 percent returns. The stock hit its 52-week high of Rs 2,443.90 per share on NSE on June 3, 2019, and the current market capitalization of the company stands at Rs 26,573 crore.

This Nifty Midcap100 stock gives 50% returns this year despite market headwinds
The only Nifty Midcap100 that rose 50 percent this year is Info Edge. The stock, in the last one year, has delivered 54 percent returns. It hit its 52-week high of Rs 2,443.90 per share on the NSE on June 3, 2019, and the current market capitalisation of the company stands at Rs 26,573 crore.
The Noida-based Info Edge, which runs Zomato and Naukri.com along with other online portals, is seeing a healthy growth in business. Last quarter, the company’s operating profit grew 9.6 percent and margin expanded 160 bps to 31.2 percent in Q4FY19.
Naukri
Recently, the IT firm announced its acquisition of iimjobs.com for Rs 80.8 crore which will help Naukri penetrate into high-skilled recruitment segments against its current strong presence around fresher/mid-level hiring.
In July, CLSA reiterated Info Edge with ‘buy’ rating at a target price of Rs 1,972.25.
It said, “Naukri’s billing growth accelerated to 20 percent YoY due to greater IT hiring. 99acres’ revenue growth remained stellar, at 46 percent YoY, even as billing growth moderated to 20 percent YoY. We lift our Zomato estimates 40-43 percent over FY20-21.”
“99acres maintained stellar revenue growth momentum for a sixth consecutive quarter with revenue up 46 percent YoY. Zomato also raised $277m in 2019 through primary rounds and the sale of its UAE delivery arm. We bake-in stronger growth for delivery, driving up revenue 40-43 percent over FY20-21,” the report added.
Since 1995, the company is engaged in providing online and offline services through its online portals -- naukri.com, jeevansathi.com, 99acres.com, shiksha.com, policybazaar.com, Zomato and many others.
Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
next story