Stock market today: Just Dial share price witnessed strong buying in the early morning session on Thursday. After the announcement of Q1 results 2024 on Tuesday and the stock market holiday on Wednesday, Just Dial share price today opened with an upside gap at ₹1,100 apiece and touched an intraday high of ₹1,195.95 per share on NSE, recording an intraday high of around 15 percent. While climbing to this intraday high, Just Dial share price also rose to a new 52-week peak.
According to stock market experts, Jus Dial share price is rising as the market is reacting to the strong Q1FY25 results of the company. On Tuesday, Just Dial reported a YoY rise of over 69 percent in net profit. As of 17th July 2024, out of 9 stock analysts covering the company, one has given a Strong Sell rating, one analyst has given a Sell rating, one analyst has given a Hold rating, and two analysts have given a Buy rating. In contrast, the remaining four analysts have given a Strong Buy rating to Just Dial shares. So, the analysts' consensus on Just Dial shares is buy and hold.
Regarding the rise in Jus Dial shares, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, “Just Dial share price is rising as the company has reported strong quarterly results in the first quarter of the current fiscal. The company has registered topline growth of 13.60 percent, and it has reported over 69 percent YoY rise in the net profit. The company reported a strong rise in operating profit both sequentially and yearly. So, it is better-than-expected Q1 results 2024, fueling the company stock.”
On the outlook of Just Dial shares, Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, said, “Just Dial share price has been on an uptrend after giving a fresh breakout at ₹1090. The stock has a strong base at ₹1120; on the upper side, it may touch ₹1290 soon. So, my suggestion to Dial shareholders is to hold with a stop loss at ₹1120 for the immediate target of ₹1290. They can maintain buy-on-dips till the stock is above ₹1120 apiece.”
On the suggestion to fresh investors regarding Just Dial shares, Dongre said, “Fresh investors can buy the stock at current levels and maintain a buy-on-dips strategy for the short-term target of ₹1290. However, they must maintain a strict stop loss at ₹1120 apiece.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
