Just Dial Shares Soar 9% on Nuvama's 'Buy' Upgrade

shares experienced a significant surge, climbing 9% amidst heavy trading volume, following a positive upgrade from Nuvama. The brokerage firm now rates the stock a "buy," citing its attractive valuation after adjusting for cash. Nuvama sees substantial upside potential for Just Dial, projecting a 36% increase in the stock's value. Their target price is set at Rs 1,140, a considerable jump from Wednesday's closing level. While acknowledging the company's recent struggles and cautious growth outlook, Nuvama believes the current valuation presents a compelling entry point for investors. They highlighted that the core business is available at an attractive price after factoring in the company's cash reserves.