IndiaMART InterMESH: Room for growth as more players shift online

Given the growth path of IndiaMart, investors with a longer-term view can accumulate the stock at lower levels

IndiaMart Intermesh Ltd (IndiaMart; CMP: Rs 4,403; Market capitalisation: Rs 13,457 crore) has corrected by more than 50 percent from its 52-week high in the month of October 2021. In March 2021, IndiaMart had raised Rs 1,070 crore through the QIP route at Rs 8,615 per share. The correction in stock price can be partly due to the higher valuation and the investment in various fintech- and SaaS (software as a service)-based companies.