Share prices of JustDial unlikely to go up futher; trade cautiously: Sudip Bandyopadhyay

In a chat with ET Now, Sudip Bandyopadhyay, President, Destimoney Securities, shares his views on JustDial. Excerpts:

ET Now: What is your view on JustDial?

Sudip Bandyopadhyay: We have been a bit cautious on JustDial for the last couple of months. The company is kind of going through a transition. They are moving into a different business segment altogether as opposed to being a repository of information. They are now trying to assist the customer in the fulfilment of their demand. So this is a different business. There are still some distance away from fully evolving that model and settling things. So one has to be a bit cautious. The valuation based on their existing business already had peaked out. There is no doubt in my mind or in most of the people's mind that they need to do something new to move to the next level and I am sure they are trying to do that. But for that market to ascertain whether that is a success or how that is fairing, it will take some time and I do not think the share prices going to go up in a big hurry.