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IndiaMART is buzzing in trade after JM Financial retained their buy call on the stock.
The stock is down 20 percent in 2022 and down 47 percent from its 52-week high on concerns of compression in margins in Q4FY22 and Q1FY23.
The company says, margin compression is on account of higher hiring and wage inflation.
However according to JM Financials the ramp up of sales effort is needed for the stock to deliver good growth in the near to medium term.
JM Financial has retained their buy rating on the stock with a target price of Rs 5,100 per share.
The stock was trading with gains of about 5 percent, around Rs 5074 at 12:48 pm.
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