Just Dial lost 1.99% to Rs 499 at 15:24 IST on BSE on profit booking after the company said the Reserve Bank of India has granted in-principle approval for issuing and operating payment system for semi-closed pre-paid payment instrument service.
The announcement was made during market hours today, 8 September 2016.Meanwhile, the S&P BSE Sensex was up 129.98 points or 0.45% at 29,056.34.
On BSE, so far 7.41 lakh shares were traded in the counter as against average daily volume of 2.54 lakh shares in the past one quarter. The stock hit a high of Rs 515.25 and a low of Rs 491.65 so far during the day. The stock had hit a 52-week high of Rs 1,076.90 on 14 October 2015. The stock had hit a record low of Rs 377.65 on 12 February 2016. The stock had outperformed the market over the past one month till 7 September 2016, surging 8.96% compared with 3.02% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 22.33% as against Sensex's 7.1% rise.
The mid-cap company has equity capital of Rs 70.57 crore. Face value per share is Rs 10.
Shares of Just Dial had surged 6.38% in two trading sessions to settle at Rs 509.15 yesterday, 7 September 2016, from its close of Rs 478.60 on 2 September 2016.
Post approval from the Reserve Bank of India (RBI), Just Dial said it will be in a position for providing payment solution to its users, which is integral part of its transaction services and JD prepaid wallet will help to provide a seamless payment experience to users. The company needs to submit certain reports to RBI upto 5 March 2017 for final authorization.
Just Dial's net profit rose 8% to Rs 38.93 crore on 6.2% growth in net sales to Rs 176.29 crore in Q1 June 2016 over Q1 June 2015.
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Just Dial started offering local search services in 1996 under the Just Dial brand and is now the leading local search engine in India.
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