Big B loses over Rs 2 crore in Just Dial selloff

January 30, 2014 16:03

NDTV reports: The shares of Just Dial have lost over a fifth of its value in just six sessions, underperforming the broader markets. Bollywood superstar Amitabh Bachchan, who has nearly 0.09 per cent stake in Just Dial or 62,794 shares, saw the value of his holdings lose over by over Rs. 2.2 crore in just six trading days.

At its day's low, Just Dial shares fell as much as 10.3 per cent today, extending its selloff to 20.7 per cent since closing at Rs. 1,693.25 on January 22.

The selling pressure in Just Dial shares intensified after the company reported its quarterly numbers on Monday. Its October-December quarter earnings fell short of some analysts' expectations.

The company's net profit for the quarter was at Rs. 29.55 crore, almost flat from Rs. 28.66 crore in the previous quarter. In addition to a slowdown in profit growth, Just Dial's revenue growth has been also easing. For the nine months of the current fiscal, the search engine provider's revenue growth slowed to 27 per cent vs 38 per cent in FY13.

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