Just Dial outperformed Nifty, Nifty midcap as well as the smallcap index. The stock is up more than 16 percent compared to Nifty decline of close to 2.5 percent, the midcap decline of about 1.5 percent and smallcap gain of about 1 percent.

In the last six trading sessions, the volume has increased from Rs 71 crore to about Rs 118 crore which is up about 1.66 times. Yesterday, December 22, delivery volume was about 17.65 percent.

At a technical level, the stock is priced at Rs 829 per share, which is between 50 and 100-day moving average (DMA).

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The stock corrected sharply after Reliance Retail Venture’s open offer at Rs 1,022 per share. The stock touched a low of close to Rs 645 per share as of November 2021 and from there onwards the stock has risen to about 28-29 percent. Despite the upmove, the valuation in terms of price to earnings one year forward still remains cheaper than its peer Indiamart Intermesh.

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