Just Dial Shares Surge to 52-Week High on Strong Q1FY25 Results, Up 15% Intraday

The Chandigarh News

Today’s Market Update: Just Dial Shares Surge on Strong Q1FY25 Results

Just Dial Shares: Just Dial witnessed strong buying early today following its Q1FY25 results announcement on Tuesday and a market holiday on Wednesday. Opening at ₹1,100 per share, the stock surged to an intraday high of ₹1,195.95 on the NSE, marking a 15% increase and hitting a new 52-week peak.

Market experts attribute this rise to Just Dial’s impressive Q1FY25 performance, reporting a YoY net profit increase of over 69%. As of July 17, 2024, analysts covering the stock have varied recommendations: one Strong Sell, one Sell, one Hold, two Buy, and four Strong Buy ratings, reflecting a consensus of positive sentiment towards Just Dial shares.

Just Dial Q1FY25 Results Analysis

Avinash Gorakshkar, Head of Research at Profitmart Securities, commented on the surge in Just Dial shares, attributing it to the company’s robust performance in the first quarter of the fiscal year. Just Dial achieved a 13.60% growth in revenue and reported an impressive 69% year-over-year increase in net profit. The company also showed significant growth in operating profit compared to previous periods. These better-than-expected Q1FY25 results have strongly bolstered the company’s stock.

Just Dial Share Price Forecast

Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, provided an outlook on Just Dial shares, noting its uptrend following a breakout at ₹1090. He highlighted a strong support base around ₹1120, suggesting that the stock could potentially reach ₹1290 in the near term. Dongre advised Just Dial shareholders to maintain a hold strategy with a stop loss set at ₹1120, targeting an immediate price objective of ₹1290. He recommended buying on dips as long as the stock remains above ₹1120 per share.

In advice to new investors considering Just Dial shares, Dongre stated, “New investors can purchase the stock at current levels and adopt a buy-on-dips approach, targeting a short-term goal of ₹1290. It’s crucial to maintain a firm stop loss at ₹1120 per share.