Why Just Dial share rose over 8% today

Just Dial share rose over 8% in early trade today after the local search engine said it has inked a pact with broadcaster Star India for advertising as co-presenting sponsor during Indian Premier League (IPL) 14. The tournament will be held in April-May 2021.

Just Dial share rose 8.44% to Rs 950 against previous close of Rs 876 on BSE. The mid cap stock opened at Rs 925 on BSE. Just Dial share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has risen 98% in one year and gained 47% since the beginning of this year. In a month, the stock has gained 45%. Market cap of the firm rose to Rs 5,774 crore on BSE.

"Pursuant to the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to our previous communication on launch of our exclusive B2B platform, JD Mart, we hereby inform all relevant stakeholders that Just Dial Limited ("the Company") has today signed an advertising agreement with broadcaster Star India Private Limited "Star" for advertising as 'Co-Presenting Sponsor in Indian Premier League - 14 (IPL 2021), to be held in April-May 2021," said the company in a BSE filing.

Stock in news: Adani Ports, Muthoot Finance, BEML, Just Dial, Ircon, Tata Chemicals and others

Just Dial provides local search related services to users in India through multiple platforms such as Desktop/ PC website, mobile site, mobile apps (Android, iOS, Windows), over the telephone and text. In February, it has launched its B2B portal, Jd Mart, across various platforms for users.

Meanwhile,  Sensex and Nifty opened higher on Monday, tracking firm global cues and positive trading at Nifty futures on the Singapore Exchange. Sensex gained 269.62 points or 0.53% to 50674.94, and Nifty was at 15002.45, up 64.35 points or 0.43%.

Share Market Live Updates: Sensex, Nifty opens higher; Adani Ports up 1%, Muthoot Finance slips 4%