IndiaMART InterMESH continued its upward journey, surging over 6 per cent to Rs 8,630 on the National Stock Exchange (NSE) on Monday. The stock has rallied 22 per cent in the past seven trading sessions after being included in the derivatives segment (Futures & Options contracts) on the NSE from the new series that began on August 27.

However, despite the recent 7-day rally, the stock has underperformed the S&P BSE Sensex and has gained a mere 6 per cent in the past six months as against a 16 per cent surge in the benchmark.

IndiaMART is an internet software & services business provider primarily engaged in the business-to-business (B2B) e-marketplace, an interactive hub for domestic and international buyers and suppliers. IndiaMART makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions.

As the economy continues to recover from the impact of Covid-19 and businesses continue to transform themselves through online presence, the domestic economy offers substantial opportunities in the long term. IndiaMART has become even more relevant to the industry in the current pandemic environment and the increasing adoption of digitalization by micro, small & medium enterprises (MSMEs) at an accelerated pace.