A brokerage prediction has come out that this stock in Mukesh Ambani's company can cross the mark of ₹1,000. There are many companies in the stock market in which Mukesh Ambani has invested and one of the important companies is Just Dial Limited. Reliance Retail Ventures Limited, a subsidiary of Reliance Industries, has acquired a significant stake in Just Dial.
As per the shareholding pattern, the company's promoter Reliance Retail has bought a total of 54,289,574 shares in Just Dial, representing 63.84% stake in the company. Hence Mukesh Ambani's company now has a controlling stake in Just Dial. After this big investment, market experts and brokerage houses are bullish on Just Dial shares.
Currently the share price of Just Dial is trading around ₹718.50. The stock had touched ₹749 during trading last Friday. The stock's 52-week high was ₹1,049.85. Meanwhile, brokerage firm JM Financial has maintained its 'Buy' rating on Just Dial. The brokerage has revised up revenue estimates by 0.4 to 0.5 per cent for FY26 to FY28 and increased EBITDA margin estimates by 37 to 71 basis points.
JM Financial has set a new target price for Just Dial at ₹1,060, up from ₹1,050 previously. On the other hand, brokerage firm Citi also maintained 'Buy' rating on the stock and raised its target price to ₹1,000. However, Citi believes that the company needs to continue investing to sustain growth. Citi has cut the growth estimate and valuation multiple for Just Dial from 12 times to 10 times due to the decline in traffic.
Coming to the company's quarterly results, hyperlocal search engine Just Dial's December quarter consolidated net profit fell 10.2% year-on-year to ₹117.9 crore. However, profit rose by 1.2% quarter-on-quarter to ₹119.4 crore. There was a one-time cost of ₹21 crore due to increase in service cost due to the implementation of the new labor code, which impacted the profit. Without these expenses, the company's profit would have been around ₹139 crore.
On a quarterly basis, the company's revenue has remained stable at around ₹303 crore. Meanwhile, Just Dial's total traffic (unique visitors) stood at 145 million, down 3.5% year-on-year, but up 6.6% quarter-on-quarter. 86.2% of the total traffic came from mobile platforms, while 11.1% came from desktop and 2.8% from voice platforms. (Note: The information provided here is for your information only. Before making any investment, it is necessary to consult an expert.)
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