Anand Rathi Brokerage recommends buying Intellect Design, target of Rs 230

Anand Rathi Securities is confident on Intellect Design Arena and has prescribed purchase rating on the stock with a target price of Rs 230 in its research report dated October 01, 2015.

Anand Rathi Brokerage talked about the same and said, “We initiate coverage on Intellect Design Arena, with a Buy rating and a target of Rs 230. Intellect has built an impressive sales team in key regions. While this would raise costs in the short run, Intellect is now beginning to see benefits in terms of greater number of deal wins and the resultant revenue acceleration. We expect margins to improve as non-linearity of the product business plays out.”

He added, “Intellect delivered an impressive Q1, with 17% qoq revenue growth. It maintained its guidance of 22-26%, which now looks conservative (1% CQGR to achieve it). We reckon it can report 28% growth in FY16 and turn EBITDA positive by Q4 FY16.”

“We initiate coverage, with a target of Rs 230 (2x FY18 revenues) reflecting optimism about management execution capability and attractive market dynamics. Buy the stock with a target price of Rs 230”, says Anand Rathi Securities research report.

Anand Rathi is a foremost full service investment bank established in 1994 offering an extensive variety of wealth management solutions for organizations, corporations, high–net worth people and families. The firm has quickly extended its footprint to more than 350 areas over India along with global presence in Hong Kong, Dubai and London. Established by Mr. Anand Rathi and Mr. Pradeep Gupta, the group today employs more than 2,500 experts throughout India and its universal offices.

The company’s reasoning is totally customer-driven, with an unmistakable focus on giving long term value addition to clients, while maintaining the highest standards of excellence, ethics and professionalism. The whole firm’s activities are divided across distinct customer groups: Individuals, Private Clients, Corporates and Institutions. AnandRathi has been named The Best Domestic Private Bank in India by Asiamoney in their Fifth Annual Private Banking Poll 2009. The firm has The firm has emerged a winner across all key segments in Asiamoney’s largest survey of high net worth individuals in India.

In year 2007, Citigroup Venture Capital International joined the group as a financial partner.


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