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Bullish on Info Edge, Naukri a cash machine; waiting for Zomato to turn corner: Marcellus

market | Sept 8, 2021 2:39 PM IST

Bullish on Info Edge, Naukri a cash machine; waiting for Zomato to turn corner: Marcellus


Saurabh Mukherjea of Marcellus Investment Managers is focused on companies with high cash flows.

One of the few profitable pure-play internet companies in the country, Info Edge India, has been under investors’ radar after its decent performance over the past few years. Market veteran Saurabh Mukherjea told CNBC-TV18 that Info Edge is "a high-class company" and a long-term investment bet of his. 

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Mukherjea said he has held the stock in fairly large quantities in some of his advisory portfolios for the last couple of years.
Info Edge shares have more than doubled in the past one year, giving a return of 43 percent in the last three months alone.
“Naukri.com is such a powerful cash machine... Sanjeev Bikhchandani and Hitesh Oberoi have done a superb job in taking its superb cash flows and reinvesting them in franchises like Zomato, Policy Bazaar and so on. So we had Info Edge in our portfolio and we think it’s a high-class company and we hope to be invested in it for a long time to come,” said Mukherjea, Founder and Chief Investment Officer of Marcellus Investment Managers.
He said he is focused on companies with high cash flows and would not invest in Zomato till it starts to generate cash flows.
“So far we have steered clear of the other fresh IPOs in the tech space as we don’t see the free cash flows and our philosophy over the last several years is focused on companies where dominance is translating into free cash flows. There is no point having dominance if I can’t see the free cash flows,” Mukherjea said.
“So as and when the Zomatos of the world start generating cash flow, we will be happy to look at them; until then we are big fans of Info Edge,” he added.
At 12:30 pm, the shares of Info Edge India were trading 7.84 percent higher at Rs 6,666 apiece on BSE. The stock price hit a 52-week high of Rs 6,715.05 apiece earlier in the day.
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