Just Dial surges 4% as GS upgrades stock to Neutral
Reacting to the development, the scrip gained 9.81 per cent to hit a high of Rs 577.80 on the BSE.
By ET Online |
NEW DELHI: Shares of Just Dial closed the day 4.35 per cent higher in Thursday's trade after Goldman Sachs upgraded the stock to 'neutral' from 'sell'. The investment bank cited limited downside risks due to slowdown in growth.
Reacting to the development, the scrip gained 9.81 per cent to hit a high of Rs 577.80 on the BSE.
"We believe execution concerns will be mitigated only after a few quarters of delivery," Goldman Sachs said. "We expect core search revenue to grow at 14 per cent CAGR in FY16E-FY18E", but margins will remain subdued," it said.
Reacting to the development, the scrip gained 9.81 per cent to hit a high of Rs 577.80 on the BSE.
"We believe execution concerns will be mitigated only after a few quarters of delivery," Goldman Sachs said. "We expect core search revenue to grow at 14 per cent CAGR in FY16E-FY18E", but margins will remain subdued," it said.
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