Momentumisers: Key factors behind Indiamart Intermesh’s surge
Indiamart Intermesh got a fresh pair of legs since its entry into Futures and Options (F&O). The stock is up 10 percent in the last couple of days; in fact, it's up more than that in just the last 3 trading sessions.
Indiamart Intermesh got a fresh pair of legs since its entry into Futures and Options (F&O). The stock is up 10 percent in the last couple of days; in fact, it's up more than that in just the last 3 trading sessions.
Business resumption on unlocking would be an important fundamental trigger for the company because a large part of their online business is business-to-business (B2B).
The stock is down 21 percent from its 52-week high even after the 10 percent rally over the last couple of trading sessions and that's on account of fear of competition coming in from JD Mart. So that is an important thing that the street will most definitely watch out for.
Over the last few trading sessions, because it's in F&O on a daily basis, it continues to see some open interest addition; yesterday’s was around 20 percent on the long side, and in the last three days even in cash markets, delivery statistics was seen of almost 75,000 shares on an average compared to the monthly average of just around 22,000-23,000. So, more people are buying more of this in the cash market as well.
Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.
(Edited by : Dipika Ghosh)
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