Just Dial rose 3.74% to Rs 1,527.05 at 10:42 IST on BSE after a foreign brokerage initiated coverage on the stock with an "outperform" rating.
Meanwhile, the BSE Sensex was up 13.92 points, or 0.05%, to 27,599.19.
On BSE, so far 19,000 shares were traded in the counter, compared with an average volume of 32,031 shares in the past one quarter.
The stock hit a high of Rs 1,539 and a low of Rs 1,483.55 so far during the day. The stock hit a record high of Rs 1,894.70 on 5 August 2014. The stock hit a 52-week low of Rs 983.10 on 6 May 2014.
The stock had outperformed the market over the past one month till 12 January 2015, rising 12.42% compared with 0.86% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 11.31% as against Sensex's 4.90% rise.
The large-cap company has an equity capital of Rs 70.39 crore. Face value per share is Rs 10.
The brokerage said that Just Dial is favourably positioned as the market leader in the local search space in India.
Just Dial's 'Search' business generating steady cash inflows, while the marketplace e-commerce venture presents an attractive option value. The company's core business can deliver 30% CAGR (compound annual growth rate) over the next 5 years, the brokerage added.
Just Dial's net profit rose 9.9% to Rs 31.49 crore on 30.8% growth in net sales to Rs 147.40 crore in Q2 September 2014 over Q2 September 2013.
Just Dial provides local search related services to users in India through multiple platforms such as the internet, mobile internet, over the telephone (voice) and text (SMS). The company has also initiated its 'Search Plus' services for its users.
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