Today’s stock market: On Thursday morning, there was significant purchasing activity for Just Dial shares. The Just Dial share price opened higher today at ₹1,100 per share on the NSE and reached an intraday high of ₹1,195.95 per share, marking an intraday high of about 15 percent, following the disclosure of Q1 results 2024 on Tuesday and the stock market holiday on Wednesday. The price of Just Dial’s shares reached a new 52-week high in addition to this intraday high.
The market’s response to Jus Dial’s impressive Q1FY25 results is driving up the share price of the company, according to stock market specialists. Just Dial revealed a YoY increase in net profit of more than 69% on Tuesday. Two analysts have given a buy rating, one has given a hold recommendation, one has given a sell rating, and one has given a strong sell rating, according to the nine stock analysts tracking the firm as of July 17, 2024. On the other hand, Just Dial shares have been rated as Strong Buy by the remaining four analysts. Thus, buy and hold is the consensus opinion among analysts on Just Dial shares.
Review of Just Dial Q1FY25 results
Avinash Gorakshkar, Head of Research at Profitmart Securities, commented on the increase in Jus Dial shares, saying, “The company has reported strong quarterly results in the first quarter of the current fiscal.” The company’s top line increased by 13.60 percent, and its net profit increased by more than 69 percent year over year. Both annually and sequentially, the company’s operating profit increased significantly. Better-than-expected Q1 results for 2024 have thereby boosted the company’s shares.
The target price for Just Dial shares
Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, provided the following analysis on the prospects for Just Dial shares: “Just Dial’s stock price has been rising steadily since breaking out at ₹1090. It has found strong support at ₹1120 and has the potential to reach around ₹1290 soon.” Thus, I would advise Dial shareholders to hold with a stop loss of around ₹1120 to reach the immediate goal of ₹1290. They can keep buying on dips till the price rises above ₹1120 a share.
According to Dongre, new investors can purchase Just Dial shares at the current price and stick to their buy-on-dips approach to reach the short-term goal of ₹1290. They have to keep their stop loss at ₹1120 apiece, though.
Read Also: Just Dial shares rise over 10% with robust Q4 profits
