Intellect Design Arena shares plunge over 15% after weak Q4 earnings

Meanwhile, remained flat at 22.2% YoY and increased by 130 basis points QoQ. The muted margin was attributed to a 15% YoY increase in employee expenses.

The company’s board has recommended a final of Rs 3.50 per share of the face value of Rs 5 for the financial year ended March 31, 2024.

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The company's first principle-built eMACH.ai accelerated growth with 16 new customers and 18 global adopted Intellect platforms and products in Q4, the company said in an exchange filing.

"We have extended the utilisation of eMACH.ai to include large Corporates and Governments through three new platforms launched in FY24: Intellect Corporate Procurement Exchange (iCPX), Intellect Government Procurement (iGPX) and Intellect Account Payable Exchange (iAPX)," the company informed.

At 11:18 am the scrip was trading 12.7% lower on BSE. However, it has surged 35% in the last six months, while it has rallied 95% in the past one year.

As per data, the average target price of the stock is Rs 953, which shows an upside potential of 7% from the current market prices. The consensus recommendation from 4 analysts for the stock is a 'Hold'.

In technical terms, the relative strength index (RSI) of the stock is currently at 45.9, signaling it's neither trading in the overbought nor in the oversold territory. Additionally, the MACD is at -1.9, which is below its Signal and Center Line, this is a strong bearish indicator.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the )