Just Dial share price surged 10% to hit its upper circuit of ₹704.65 on the BSE in intraday trade on Friday, 28 August, looking set to snap its five-day losing streak. Soon after opening at ₹654.65, up from its previous close of ₹640.60, Just Dial shares jumped 10% to hit their upper price band.
The stock witnessed strong buying even though there are no fresh fundamental developments or exchange filings.
Brokerage firm Kotak Institutional Equities has retained its positive view on the stock, which seems to have influenced sentiment.
Kotak Institutional Equities has reportedly maintained its ‘buy’ rating on the stock, with a target price of ₹1,175, citing a potential change in management that could revive sluggish collections growth.
On 10 July, the company, along with its June quarter results, announced the appointment of Dinkar Ayilavarapu as Chief Executive Officer and Dinesh Taluja as Chief Financial Officer.
Meanwhile, Just Dial reported a 10% year-on-year (YoY) rise in Q1FY27 revenue to ₹327.50 crore, while net profit for the quarter climbed 4.1% YoY to ₹166.20 crore.
Just Dial share price trend
The stock has jumped 28% over the last six months compared to a 5% fall in the benchmark Sensex.
It hit a 52-week low of ₹486.05 on 30 March this year after hitting a 52-week high of ₹878.70 on 13 October last year.
Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, pointed out that Just Dial share price is showing a positive technical setup on the daily chart after a period of consolidation.
The stock is currently comfortably above the ₹686.41 moving average, indicating that the short-term trend remains positive.
Patel underscored that the stock has also moved above the Ichimoku cloud, supporting a bullish structure and suggesting improving trend strength. The DMI setup is encouraging, with +DI at 32.72 well above -DI at 20.48, indicating buyers have the upper hand.
However, ADX at 13.63 suggests the broader trend remains relatively weak and needs confirmation. RSI stands at 58.24, above its average of 54.71 and the 45 support zone, reflecting positive momentum, Patel added.
“Sustaining above ₹686 could support further upside toward recent highs,” said Patel.
Aditya Thukral, Founder and Analyst at AT Research and Risk Managers, said a short-term uptrend has begun to emerge in stock prices, with fresh buying evident at the confluence of levels.
“Any close below the recent swing low of ₹637.3 will invalidate the immediate uptrend in the stock prices,” said Thukral.
The founder of AT Research noted that after a corrective phase from October 2024 to March 2026, Just Dial has entered a short- to medium-term uptrend, with the stock price forming higher highs and higher lows.
The stock prices retraced 61.8% of the previous up move a nd have started rising. This rise has been witnessed from the support areas, the 200-day EMA, and a fresh positive crossover between the 50-day and 200-day EMAs, which is bullish for the medium term.
The stock has regained above the 20-day EMA, with a break of the lower high (686.60) of minor degree, and is positive for the short term. The volumes have been unusually high compared to average volumes and are a sign that bulls are taking charge, Thukral observed.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
