IndiaMART InterMESH hits 52-week low; stock slips 43% in six months

Like the preceding quarter, Q1FY23 will also see high costs and margins will be impacted before improving gradually, said analysts.

Shares of IndiaMART InterMESH hit a 52-week low of Rs 3,751, down 2 per cent on the BSE in Monday’s trade on concerns of weak earnings. The stock has fallen below its previous low of Rs 3,790.90 touched on June 30, 2020. In the past six months, it has slipped 43 per cent, as compared to a 11 per cent decline in the S&P BSE Sensex.

IndiaMART InterMESH had bought back 160,000 equity shares of the company from its existing shareholders, through tender offer route at Rs 6,250 per equity share. The buyback had opened on June 2, 2022