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Just Dial jumps on expansion plans

The stock has rallied 8% to Rs 955 on the Bombay Stock Exchange.

SI Reporter  |  Mumbai 

Just Dial has rallied over 8% to Rs 955 after the company said its board will discuss the new business opportunities available to the company.

The stock opened at Rs 887 and hit a low of Rs 884 in early morning deals on BSE. A combined 367,000 shares change hands on the counter till 1045 hours on BSE and NSE.

The board of directors of the company is schedule to meet on October 25 to discuss the new business opportunities available to the company along with the unaudited financial results for the quarter ended September 30, 2013, Just Dial said in a regulatory filing.

The board will also discuss 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.

Last week in a communication to the stock exchanges, Just Dial said it had sought certain clarifications regarding the project, permitted to be established by August 2015, from Karnataka Industrial Area Development Board.

The company said it was now evaluating the project and will place before its board the proposal for consideration and approval.

Meanwhile, the stock was corrected nearly 16% its record high of Rs 1,046 touched on October 4 during intra-day trade on BSE.

First Published: Fri, October 18 2013. 10:49 IST
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