Buy Just Dial, target price Rs 395: IIFL

Just Dial Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 2347.76 Crore) operating in Services sector.

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Promoters held 33.4 per cent stake in the company as of June 30, 2020, while FIIs held 35.4 per cent, DIIs 16 per cent and public and others 15.1 per cent.
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IIFL has given a buy rating to Just Dial with a target price of Rs 395. The share price moved up by 5.41 per cent from its previous close of Rs 380.10. The stock’s last traded price is Rs 382.30.

Just Dial Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 2347.76 Crore) operating in Services sector.

Financials
For the quarter ended 30-06-2020, the company has reported a Consolidated sales of Rs 162.43 Crore, down 30.87 % from last quarter Sales of Rs 234.95 Crore and down 32.37 % from last year same quarter Sales of Rs 240.17 Crore. The Company reported net profit after tax of Rs 83.32 Crore in latest quarter.


Investment Rationale
The brokerage said that the stock has given a bullish flag pattern breakout on the hourly chart.

Promoter/FII Holdings
Promoters held 33.4 per cent stake in the company as of June 30, 2020, while FIIs held 35.4 per cent, DIIs 16 per cent and public and others 15.1 per cent.
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