On October 24, 2024, Indiamart Intermesh is showing a positive trend in its share price, which has risen by 0.7% despite a broader market slump. As of 3:00 PM, shares are trading at ₹2,497.55, bolstered by increased trading activity and a notable rise in volume.
| Table of Contents | |
|---|---|
| Current Share Performance | Broader Market Context |
| Technical Analysis | Market Activity |
| Fundamental Analysis | Conclusion |
Current Share Performance
As of today, Indiamart Intermesh’s share price is at ₹2,497.55, reflecting a mild but notable rise of 0.7% from the previous closing price. The stock opened the trading session at ₹2,472.55, and over the course of the day, it experienced a high of ₹2,515.80 and a low of ₹2,457. The uptick in price amidst current market conditions suggests some resilience.
Broader Market Context
In contrast to Indiamart Intermesh’s rise, the broader market is experiencing a downward trend. Major indices such as the Nifty and Sensex are both showing slight declines, with Nifty down by 0.14% and Sensex moving down by 0.03%. The comparative resilience of Indiamart’s share price amid these broader market declines highlights its potential attractiveness to investors.
Technical Analysis
From a technical standpoint, Indiamart Intermesh is trading below its simple moving averages (SMAs), indicating potential weakness. Below are the recent SMA values:
| SMA Duration | Value |
|---|---|
| 5-day | ₹2,824.22 |
| 10-day | ₹2,922.36 |
| 20-day | ₹2,919.08 |
| 50-day | ₹2,943.28 |
| 100-day | ₹2,823.95 |
| 300-day | ₹2,728.08 |
This positioning below the SMAs suggests a bearish sentiment. Additionally, key resistance levels have been identified at ₹2,511.07, ₹2,535.53, and ₹2,566.07, while support levels exist at ₹2,456.07, ₹2,425.53, and ₹2,401.07.
Market Activity
The trading volume for Indiamart Intermesh has increased by 35.37% compared to the previous session. This spike in activity could imply heightened interest from traders and investors, which might influence future price movements positively or negatively.
Fundamental Analysis
On the fundamental side, Indiamart Intermesh displays several relevant financial metrics:
- Return on Equity (ROE): 17.60%
- Price-to-Earnings (P/E) Ratio: 34.70
- Price-to-Book (P/B) Ratio: 7.94
Analysts have forecasted a potential upside of 21.88% over the next year, with a target price estimated at ₹3,044.00, indicating confidence in the stock’s growth.
In terms of shareholding, the status remains notable: there is no promoter holding. Mutual funds hold 0.78% of shares (a decrease from 0.85% in June), while foreign institutional investors (FIIs) have increased their holding to 23.86%, up from 23.37%.
Conclusion
In summary, while Indiamart Intermesh’s current share price is experiencing a slight uptick of 0.7%, the overall technical indicator suggests a bearish trend underlined by key metrics in relation to moving averages. Despite this, the increased trading volume and favorable fundamental outlook might offer encouraging signals for long-term investors.
Investors should remain alert to overall market trends and discerning in their assessments, especially as current conditions oscillate in light of broader market performances.
FAQ
Q: What is the current share price of Indiamart Intermesh?
A: As of October 24, 2024, the share price is ₹2,497.55.
Q: How does Indiamart’s stock perform compared to broader market indices?
A: Indiamart’s stock rose 0.7% while key indices Nifty and Sensex are down.
Q: What does the increase in trading volume indicate?
A: A higher trading volume suggests increased market interest, potentially affecting the stock’s price movement.
