- In the last 4 trading sessions, IndiaMART InterMESH rose 28.60 percent.
- On Monday, the stock rose over 8 percent and touched its all-time high.
- The company was listed on the exchanges on July 4 this year.
IndiaMART InterMESH delivered handsome returns in the last few trading sessions. In fact, on Monday, the share price of the company rose over 8 percent and touched its all-time high.
Last week, the stock price rose 28.60 percent, and in the last one month, it rallied 32 percent to current market levels. It touched its all-time high on Monday after gaining 8.69 percent to Rs 1,573 per share on the NSE.
The company is an online business-to-business marketplace for business products and services with approximately 60 percent market share of the online B2B classifieds space in India in fiscal 2017.
The company’s June consolidated results remained healthy, with its net sales increasing by 30 percent YoY to Rs 147 crore. The company worked towards lowering its total expenses, and reported a 33.57 percent fall YoY to Rs 110.60 crore as compared to Rs 166.50 crore in the corresponding quarter last year.
The net profit of the company saw a huge jump to Rs 32.40 crore as against the loss of Rs 56.40 crore made during the June quarter last year.
IndiaMART was listed on the exchanges on July 4 this year. The company made a strong market debut, listing at a 23 percent premium to its issue price.
Most brokerages remained positive on the stock due to its brand recognition and strong network.