Just Dial gains 2% as CLSA sees better growth potential

NEW DELHI: Shares of Just Dial rose 2 per cent in Tuesday's trade after foreign brokerage CLSA said that a process of slow normalisation post GST is now underway, and should partially aid the company's September quarter results.

Low base should help year-on-year performance of the company in the subsequent three quarters, the brokerage said.

Following the development, the scrip rose 1.96 per cent to hit a high of Rs 418.45 on BSE.

However, it slipped later and settled 0.05 per cent lower at Rs 410.20 on Tuesday.

There are reports that Just dial is likely to get delisted from Indian bourses and get listed on Nasdaq. The reports further stated that two global PE funds will back Just Dial for the delisting, which is seen happening between Rs 770 and 890.

Company sources, meanwhile, believe that a big global tie up is on the cards. HDFC MF recently bought 5 per cemt stake in the company at Rs 400 per share.