Just Dial gains 5% on share buyback plan

The board will meet on July 24 to consider share buyback proposal

Just Dial gained 5% to Rs 373 on BSE in early morning trade after the company said its board will meet on July 24, to consider share buyback proposal.

Earlier, Just Dial announced that the board will meet to consider and approve the unaudited financial results of the company for the first quarter ended June 30, 2017 (Q1FY18).

“We hereby inform you that the board will also consider a proposal for buyback of equity shares of the company in said meeting,” Just Dial said in a BSE filing.

Thus far in the calendar year 2017, the stock had underperformed the market by gaining 4.7% as compared to 20% rise in the S&P BSE Sensex till Wednesday, July 19, 2017.

At 9:32 am; the stock was up 4% at Rs 369, against 0.17% gain in the benchmark index. A combined 1.29 million shares changed hands on the counter on NSE and BSE.