Just Dial gains after strong Q2 outcome

Just Dial rose 1.52% to Rs 1,041.35 at 9:57 IST on BSE after net profit rose 97.93% to Rs 28.66 crore on 28.56% rise in net sales to Rs 112.66 crore in Q2 September 2013 over Q2 September 2012.

The result was announced on Saturday, 26 October 2013.

Meanwhile, the BSE Sensex was up 37.44 points, or 0.18%, to 20,720.96.

On BSE, 97,000 shares were traded in the counter compared with average volume of 71,422 shares in the past one quarter.

The stock hit a high of Rs 1,078.30 and a low of Rs 1,014 so far during the day. The stock hit a record high of Rs 1,188.80 on 25 October 2013. The stock hit a record low of Rs 588.85 on 6 June 2013.

The stock had outperformed the market over the past one month till 25 October 2013, rising 31.17% compared with the Sensex's 4.17% rise. The scrip had also outperformed the market in past one quarter, gaining 50.58% as against Sensex's 4.44% rise.

The mid-cap company has an equity capital of Rs 70.05 crore. Face value per share is Rs 10.

Just Dial announced on Saturday, 26 October 2013, that its board at the meeting held on 25 October 2013, took note of an order received from Government of Karnataka permitting the company to establish an IT/ITES - BPO and software development centre at IT/ITES park in Bangalore. The board has constituted a committee of directors and officers of the company to evaluate the proposal.

The board also discussed new business opportunities and has decided to seek shareholders' approval through postal ballot to enable the company to undertake such new businesses.

Just Dial debuted on the stock exchanges on 5 June 2013. On that day, the stock settled at Rs 611.45 on BSE, a premium of 15.37% over the initial public offer price of Rs 530 per share. Just Dial's IPO closed on 22 May 2013. It received bids for 15.77 crore shares. The IPO price band was set at Rs 470 to Rs 543 per share. The company priced the IPO at Rs 530 per share, but offered a discount of Rs 47 on the issue price to retail investors.

Just Dial provides local search related services to users in India through multiple platforms such as internet, mobile internet, over the telephone (voice) and text (SMS).

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