Just Dial Shares Gets ‘Buy’ Upgrade From ICICI Securities Post Q3 Results
ICICI Securities has upgraded Just Dial shares to ‘Buy’, citing attractive valuations after the recent price correction. The brokerage kept its target price unchanged at Rs 968, valuing the stock at 6x FY27E EV/EBITDA (implied five times FY28E).
Q3 FY26 Results: Key Highlights
In Q3 FY26, Just Dial reported 6.4% YoY revenue growth, with Ebitda margin expanding by 102 basis points YoY, driven by lower employee costs following headcount reductions in Q2.
Investment Rationale: Why ICICI Securities Upgraded Just Dial
ICICI Securities’ upgrade of Just Dial shares to ‘Buy’ is based on the company’s attractive valuations after the recent price correction. The brokerage believes that the stock’s current valuation is reasonable, considering its growth prospects and industry trends.
Target Price: Rs 968
The target price of Rs 968 set by ICICI Securities implies a valuation of 6x FY27E EV/EBITDA (implied five times FY28E). This valuation is considered reasonable, given the company’s growth prospects and industry trends.
Indian Stock Market: Current Trends and Outlook
The Indian stock market has been volatile in recent times, with the Nifty and Sensex indices experiencing significant fluctuations. However, with the economy showing signs of recovery, investors are becoming increasingly optimistic about the market’s prospects.
Investing in Indian Stocks: Strategies for Success
Investing in Indian stocks requires a well-thought-out strategy, taking into account the current market trends, economic conditions, and company-specific factors. Investors should conduct thorough research and analysis before making investment decisions, and consider consulting with financial experts if needed.
Just Dial: Company Overview and Growth Prospects
Just Dial is a leading local search engine in India, providing a platform for users to search for businesses and services. The company has been expanding its services and features, aiming to increase its user base and revenue growth.
Conclusion: Just Dial Shares Upgrade and Investment Outlook
In conclusion, ICICI Securities’ upgrade of Just Dial shares to ‘Buy’ is a positive development for investors. With the company’s attractive valuations, growth prospects, and industry trends, Just Dial shares are likely to experience significant growth in the coming months. Investors should consider adding Just Dial to their portfolio, but should also conduct thorough research and analysis before making investment decisions.
