Affle, IndiaMART InterMESH Hit All-Time Highs; Up Over 175% In A Year

Shares of Affle (India) and IndiaMART InterMESH hit their respective all-time highs on Wednesday.

The stocks have rallied over 175% in a year's time and up to 470% from their issue price.

Affle (India) has climbed 182% from Rs 1,443.45 on 16 December 2019 to its all-time high of Rs 4,072.45 on 16 December 2020. It made its market debut on 8 August 2019.

IndiaMART InterMESH shares have surged 174% from Rs 2,025.40 on 16 December 2019 to Rs 5,550 on 16 December 2020. The stock was listed on the stock exchanges on 4 July 2019.

The stocks are rallying on attractive prospects for their businesses.

IndiaMART is a dominant market leader in the online B2B Classifieds industry and is expected to benefit from increased digital adoption among SMEs (Small and Medium Enterprises), that constitute the majority of the sellers on the platform.

The company reported a consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) of Rs 82 crore in the September-ended quarter, which is more-than-doubled when compared to Rs 36 crore in the same quarter last year.

Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising. Its EBITDA was up 58% year-on-year for the September-ended quarter.

The management has said that the increase was marked with accelerated business momentum. Changing the macro landscape with greater consumer adoption of mobile and connected devices is increasingly driving the advertiser budget shifts towards ROI and data-focused digital marketing, making Affle an indispensable part of the mobile marketing ecosystem.