Just Dial has tanked nearly 10% to Rs 926 on the Bombay Stock Exchange (BSE), with the stock sliding on profit booking after rallied over 50% in past one month.
The stock opened at Rs 1,040 and hit a new high of Rs 1,046 in early morning deals on the BSE. A combined 377,717 shares change hands on the counter till 1005 hours on BSE and NSE.
Shares of Just Dial, which provides search services through information and user reviews from its databases, has rallied nearly 52% in past one month from Rs 677 on September 3, 2013 till Friday.
A research report by Centrum Broking dated September 24, recommended the stock with a target price of Rs 902, believes the premium valuation will sustain given the company’s strong revenue and profitability growth. A highly efficient and scalable business model coupled with an entry into transaction driven businesses will further offer upside from FY15, the report added.
The stock opened at Rs 1,040 and hit a new high of Rs 1,046 in early morning deals on the BSE. A combined 377,717 shares change hands on the counter till 1005 hours on BSE and NSE.
Shares of Just Dial, which provides search services through information and user reviews from its databases, has rallied nearly 52% in past one month from Rs 677 on September 3, 2013 till Friday.
A research report by Centrum Broking dated September 24, recommended the stock with a target price of Rs 902, believes the premium valuation will sustain given the company’s strong revenue and profitability growth. A highly efficient and scalable business model coupled with an entry into transaction driven businesses will further offer upside from FY15, the report added.
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