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Just Dial stock rises 10% after firm says to consider buyback of shares

Share price of  Just Dial gained up to 10% to Rs 383.40 compared to the previous close of Rs 348.55 on BSE


Aseem Thapliyal | April 28, 2020 | Updated 10:35 IST
Just Dial stock rises 10% after firm says to consider buyback of shares
Just Dial stock is trading higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200-day moving averages

Just Dial share price rose in early trade today after the firm said a meeting of the board of directors is scheduled on April 30, 2020 to consider the proposal for buyback of fully paid-up equity shares of the company. Share price of  Just Dial gained up to 10% to Rs 383.40 compared to the previous close of Rs 348.55 on BSE.

The stock has gained 14.84% in last two days. The small cap stock opened with a gain of 6.15% at Rs 370 today. Just Dial stock is trading higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200-day moving averages. The stock hit a 52-week high of Rs 824.85 on July 9, 2019. It hit a 52-week low of Rs 250.55 on March 26, 2020.  

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Share price of Just Dial has lost 35.19% during last one year and fallen 34.39% since the beginning of this year.  However, the stock has gained 34.89% during last one month. Total 1.19 lakh shares amounting to turnover of Rs 4.50 crore changed hands on BSE. Market capitalisation of the firm rose to Rs 2,446 crore on BSE.

The announcement was made after market hours on Monday. Shares of Just Dial closed 5.75% higher at Rs 348.55 on April 27, 2020.

"In accordance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (the 'Listing Regulations'), we hereby inform you that a meeting of the Board of Directors of Just Dial Limited (the 'Company') will be held on Thursday, April 30, 2020 to inter-alia consider and approve the proposal for buy-back of fully paid-up equity shares of the Company and matters necessary and incidental thereto," the firm communicated to bourses.

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Just Dial provides local search related services to users in India through multiple platforms such as Desktop/PC website, mobile site, mobile apps, over the telephone and text.

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