India, July 22 -- Shares of B2B ecommerce major IndiaMART fell as much as 7.5% during the intraday trading today to hit a 52-week low of Rs.1,773 before closing 5.25% lower at Rs.1,817.40 on the NSE.

The company's market capitalisation stood at Rs.10,930.4 Cr (about $1.1 Bn) at the end of the session.

The decline came a day after IndiaMART reported its Q1 FY27 earnings, with investors reacting to continued weakness in its paid supplier base despite healthy growth in revenue and profitability.

Jefferies retained its 'Underperform' rating on the stock with a target price of Rs.1,650, citing the third consecutive quarterly decline in paid suppliers. The brokerage also lowered its FY28 and FY29 earnings estimates by 1.5% to 4%.

Meanwhile,...