ICICI Direct Recommends 'BUY' on Just Dial; Sets Target at Rs 968
Business
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Moneycontrol•14-01-2026, 11:11
ICICI Direct Recommends 'BUY' on Just Dial; Sets Target at Rs 968
- •Just Dial reported 6.4% YoY revenue growth in Q3FY26, with EBITDA margin expanding by 102 basis points due to lower employee costs.
- •Paid campaign net additions rebounded significantly to 1.6 million (up 22.6% YoY), driven by increased advertising spending.
- •Q3 collections reached INR 3 billion (up 8% YoY), and the company's cash balance grew to INR 57 billion.
- •Despite a 6.7% QoQ / 3.5% YoY drop in web segment traffic, sustained momentum in net additions is a key factor to monitor.
- •ICICI Direct upgrades Just Dial to 'BUY' due to recent price correction, maintaining a target price of INR 968.
Why It Matters: ICICI Direct recommends buying Just Dial, citing strong Q3FY26 performance and an attractive entry point.
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