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IndiaMART breaks 5-day rising streak

Capital Market 

IndiaMART InterMESH fell 5.19% to Rs 1,654.90 on profit booking after a recent rally.

Meanwhile, S&P BSE Sensex was down 432.66 points or 1.18% at 36,131.22.

Shares of IndiaMART InterMESH soared 9.24% in the past five trading sessions to settle at Rs 1,745.40 yesterday, 18 September 2019, from its close of Rs 1,597.65 on 11 September 2019.

The stock entered stock exchanges on 4 July 2019 and was listed at Rs 1180, a premium of 21.27% to the initial public offer (IPO) price of Rs 973. On that day, it settled at Rs 1302.55 on BSE, a premium of 33.87% over the IPO price.

Last week, a domestic brokerage had given a 'buy' rating on IndiaMART InterMESH with a target price of Rs 1,900.

On BSE, 7,380 shares were traded in IndiaMART InterMESH counter, compared to a 2-week average of 31,000 shares. The stock hit an intraday high of Rs 1,778.35 and an intraday low of Rs 1,603. It hit a 52-week high of Rs 1,782 on 18 September 2019 and a 52-week low of Rs 952 on 28 August 2019.

On a consolidated basis, IndiaMART InterMESH reported net profit of Rs 32.40 crore in Q1 June 2019 compared with net loss of Rs 56.40 crore in Q1 June 2018. Net sales jumped 30% to Rs 147.30 crore in Q1 June 2019 over Q1 June 2018.

IndiaMART InterMESH is an Indian online B2B marketplace. It is a platform to integrate buyers and sellers through business solutions and connects sellers and buyers globally.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, September 19 2019. 14:44 IST
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