5 days ago
Just Dial Shares Hit Upper Circuit, Ending Five-Day Losing Streak
Just Dial is a company whose shares are traded on the stock market.
Its share price rose by 10% on Friday and reached the maximum increase allowed for that day.
This ended a five-day period in which the share price had fallen.
Investors appeared encouraged by a positive view from Kotak Institutional Equities.
The brokerage kept its buy rating and set a target price of ₹1,175.
Just Dial also recently appointed a new chief executive and chief financial officer.
The company reported higher revenue and profit in the first quarter of FY27.
Technical analysts saw signs that the share price could continue rising, but they said the larger trend remains weak and needs confirmation.
Just Dial shares rose 10% to ₹704.65, hitting the upper circuit on the BSE on Friday, 28 August.
The rally came despite no fresh fundamental developments or exchange filings.
Kotak Institutional Equities retained its buy rating and ₹1,175 target price, citing possible management-led improvement in collections growth.
Just Dial reported Q1FY27 revenue of ₹327.50 crore, up 10% year-on-year, while net profit increased 4.1% to ₹166.20 crore.
Analysts identified bullish technical signals but warned that the broader trend still needs confirmation.
- Who
- Just Dial and its investors; Kotak Institutional Equities and technical analysts also commented on the stock.
- What
- Just Dial shares rose 10% to ₹704.65, hitting their upper price band and ending a five-day losing streak.
- Where
- On the BSE.
- When
- Friday, 28 August; the company reported its Q1FY27 results on 10 July.
- Why
- Buying was supported by positive brokerage sentiment and bullish technical indicators, despite no fresh fundamental developments or exchange filings.
Key facts
- Closing price before rally
- ₹640.60
- Intraday upper-circuit price
- ₹704.65
- Q1FY27 revenue
- ₹327.50 crore, up 10% year-on-year
- Q1FY27 net profit
- ₹166.20 crore, up 4.1% year-on-year
- Kotak rating and target
- Buy rating with a target price of ₹1,175
- Six-month share performance
- Up 28%, compared with a 5% fall in the Sensex
- Technical support level
- Sustaining above ₹686 could support further upside; a close below ₹637.3 would invalidate the immediate uptrend
Quotes
Jigar S. Patel
Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers
“Any close below the recent swing low of ₹637.3 will invalidate the immediate uptrend in the stock prices.”
livemint.com
“Sustaining above ₹686 could support further upside toward recent highs”
livemint.com
Sources
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