There are many companies in the stock market in which Mukesh Ambani has invested. One of these companies is Just Dial Limited. Reliance Retail Ventures Limited, a Reliance Industries company, has a major investment in Just Dial. According to the shareholding pattern, promoter Reliance Retail has bought 5,42,89,574 shares or 63.84 percent stake in Just Dial. It means that Just Dial is owned by Mukesh Ambani’s company. Experts seem bullish on Just Dial shares.
brokerage estimate
Currently the share price of Just Dial is Rs 718.50. The share had reached Rs 749 during trading last Friday. The 52-week high of the share is Rs 1,049.85. At the same time, brokerage JM Financial has maintained its buy rating on the stock. The brokerage has revised its revenue estimates for FY26-28 by 0.4–0.5 per cent while raising EBITDA margin estimates by 37–71 basis points (bps). The brokerage’s new target price is ₹1,060, which is slightly higher than the previous target of ₹1,050. Brokerage firm Citi has maintained its buy rating on the stock and raised its price target to ₹1,000. The firm said that Just Dial needs to invest for growth. Citi has reduced its growth estimates and multiples for Just Dial to 10x from 12x earlier due to continued traffic decline.
How were the quarterly results?
Hyperlocal search engine Just Dial’s consolidated net profit declined 10.2% year-on-year to Rs 117.9 crore during the December quarter. However, profit increased by 1.2% to Rs 119.4 crore compared to the previous quarter. The startup’s bottom line was impacted by a one-time expense of INR 21 crore in the quarter due to service costs arising from the implementation of the new labor code. If this special expense had not occurred, the company’s profit would have been Rs 139 crore. On a quarter-on-quarter basis, revenues remained almost unchanged at Rs 303 crore. Justdial’s total traffic (unique visitors) for the quarter stood at 14.5 crore, down 3.5% YoY and up 6.6% YoY. Of this, 86.2% traffic came from mobile platforms while the remaining 111% and 2.8% came from desktop and voice platforms respectively.
