Stocks to Buy: Expert Sandeep Waghle picks Info Edge for solid returns; know what are likely triggers for it

Market Expert Sandeep Waghle and analyst Ashish Chaturvedi recommended Info Edge as a stock to look out for in the near future for solid returns. The main reason is the rising demand for working professionals in the service sector. Chaturvedi said that the Great Resignation has started, and people are switching jobs.

Info Edge

In the IT sector particularly, the attrition rates are quite high. As a result, the recruitment business is on the rise. This will benefit Info Edge as the company's 70 per cent business revolves around recruitment business.

Chaturvedi added that Info Edge controls 80 per cent of the market share in the online recruitment space. It owns various portals, including naukri.com, IIM Jobs, jobhai.com and Bigshyft.com. In FY21-22, the hiring rates are 83 per cent more than the previous year. The top five IT companies in India have already hired more than 1,60,000 people in the current fiscal.

Apart from this, Info Edge also owns stakes in 99acres, jeevansathi.com and SaaS companies like Ustraa and NoPaperForms. The stock has also corrected around 25 per cent recently.

Expert Sandeep Waghle said that the stock is showing resistance at Rs 5,600-5,650. Once the stock breaks Rs 5,700 levels, it can even go up to Rs 6,000 in just one day. According to Chaturvedi, the stock can even go to Rs 6,550.

BirlaSoft Tech

Anil said that another stock that is currently the favourite of everyone is BirlaSoft Tech. He recommended investors keep an on this stock.

Price: Rs 580.5

Target: Rs 600

Stop-loss: Rs 565. 

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खुशखबरी...नौकरियां ही नौकरियां होगी!https://t.co/ukHdXMK6Fy #IIMJobs #99acres https://t.co/3NGJT2Ipe8 जैसे ब्रांड्स को होगा फायदा#InfoEdge के लिए तेजी के क्या हैं ट्रिगर्स?

ब्रोकर्स की क्या है राय?

जानिए आशीष चतुर्वेदी से...@AshishZBiz @AnilSinghvi_ @iamrakeshbansal pic.twitter.com/wPxMKhKz7i

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