Just Dial rings loud on share buyback plan

Just Dial rose 3.55% to Rs 367.05 at 9:25 IST on BSE after the company said that its board of directors will meet on 24 July 2017 to consider a proposal for buyback of shares of the company.

The announcement of the board meet to consider share buyback was made after market hours yesterday, 19 July 2017.

Meanwhile, the S&P BSE Sensex was up 56.09 points, or 0.18% to 32,011.44. The S&P BSE Small-Cap index was up 60.22 points, or 0.38% to 16,034.79.

On the BSE, 64,927 shares were traded in the counter so far, compared with average daily volumes of 1.91 lakh shares in the past one quarter. The stock had hit a high of Rs 372.90 and a low of Rs 364 so far during the day.

Before the today's recovery in stock, it had fallen 4.67% in five sessions to settle at Rs 354.45 yesterday, 19 July 2017, from a close of Rs 371.85 on 12 July 2017.

Just Dial will also announce its Q1 results on 24 July 2017. Net profit of Just Dial declined 37.1% to Rs 25.35 crore on 5.9% rise in net sales to Rs 181.72 crore in Q4 March 2017 over Q4 March 2016.

Just Dial is a leading local search engine in India.

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