Stock Market update: JustDial Ltd shares up by 8% as the company announces to venture into E-commerce

This is the highest trade since the beginning of the new year.

Shares of JustDial, an Information Technology company increased by 8% and over 65 points on, January 11, 2022, 10:50 AM IST. The share price of JustDial hit at Rs. 875 per equity share. The shares rose drastically from Rs. 808.10 per equity share this morning in early trade to Rs. 875.

This is the highest trade since the beginning of the new year. The previous low was on December 20, 2021, when the share price went down to Rs. 760.80 representing a decrease of 9.17%.

Stocks of JustDial rose as it announces launching its E-commerce platform, JD Mart. JD Mart is an exclusive B2B portal providing services to both wholesalers and customers. And, providing a wide range of products from various categories to suit all your needs. It provides products ranging from Logistics and engines to groceries.

The products in the company are categorized according to the needs of the buyer and vendors can sell their products via JustDial Mart and claims to provide a 24×7 helpline.

JustDial is a Mumbai based Indian internet technology company that provides local search services across India. The company has been very successful since 1997. Justdial had 10,984 employees and a database of approximately 29.4 million listings and 536,236 active paid campaigns, as of 2020. On 16 July 2021, Reliance Retail acquired a 66.95% stake in JustDial for ₹3,497 cr.

The net revenue of JustDial in 2021 stood at Rs. 824.70 crore. Whereas, it was Rs. 1092.82 crore in the previous year. The current market capitalization of the company is Rs. 7,334.89 crore.

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