Nuvama has raised the rating on indimart intermesh ltd shares from reduce to buy and raise the target price on the stock to 3800 per share

Indimart shares: Investors are eyeing the stock of Indiamart Intermesh Limited these days as brokerage firm Nuwama has increased the rating on this from ‘Reduce’ to ‘BUY’. Brokerage has increased the target price on its stock to Rs 3,800 per share, which is more than Rs 2,100 more than its previous target price. In October 2023, Nuwama had ‘hold’ the rating on Indiamart shares and ‘reduce’ in October 2024. However, now brokerage has many high expectations from Indiamart.

Management hard work is bringing color

The stock closed at Rs 2,500 on Tuesday, while Nuwama’s new target price is 52 percent more than this. At the moment, many attempts to manage the company are enticing buyers such as changes on platforms and investment in marketing and branding, etc. Nuwama believes that the business of Indiamart is taking entry into a new demand nomination and management is on the right path to reduce competition with its suppliers.

The company focuses on these things

Indiamart has been facing a decline in its silver subscribers for the last nearly two years. During this time, an average of 130 inquirys came to every paid supplier per quarter, which fell to 106 in the first quarter of FY 24. While it was around 148 during FY 21-23. To deal with these challenges, managing worked patiently and focused on branding and investment, improving the platform, emphasizing the sales team’s partial inspection. Due to all this, there is a continuous improvement for the last 12 months.

Indiamart’s difficulties are decreasing

According to Nuwama, the difficulties of Indiamart seem to be decreasing and its subscribers are growing. In the coming time, there may be a boom in the revenue of indimart. Keeping this in mind, Nuwama has increased the estimate of stock earnings for the financial years 2026 and 2027 to 9 percent and 10 %. Eight of the 21 analysts who covers Indiamart have given ‘BUY’ rating on the stock, five have asked for ‘Hold’, while the other eight have recommended ‘Sell’.

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