Thursday 26 September 2013

Just Dial hits new high since listing

The stock has rallied 72% against its issue price of Rs 483 per share offered to the retail investors.

Just Dial has moved higher by nearly 6% to Rs 830, also its record high since listing in June this year, on the National Stock Exchange (NSE).

The stock has opened at Rs 795 and hit a low of Rs 781 in early morning deals. A combined 114,803 shares change hands on the counter so far on NSE and BSE.

Shares of the Mumbai-based company providing local search services over the Phone, Web, Mobile[4] and SMS has surged 72% against its issue price of Rs 483 per share offered to the retail investors. The company had issued shares at price of Rs 530 per share to institutional investors.

Meanwhile, foreign institutional investors (FIIs) are bullish on the stock, raising their holding in the company by nearly four percentage points post listings.

FIIs total holding in the company had increased to 18.77% as on June 30, 2013 against 14.85% on date of listing, the BSE data shows.

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