ICICI Direct has given Buy recommendation for Intellect Design Arena with a target price of Rs. 900 in its research report issued on Jan 31, 2021
ICICI Direct’s research report on Intellect Design Arena
Intellect Design Arena (Intellect) provides software products to retail, corporate banking, insurance & treasury. The company is a transition from a product company to a platform company Intellect generates 55% of revenues from developed markets and rest from emerging markets Recently, it saw a turnaround in margins (from 5% in FY20 to 23% in FY21)
We revise our rating on the stock from HOLD to BUY We value Intellect at Rs 900 i.e. 20x P/E on FY24E.