Just Dial shares zoom 9% on signing IPL ad deal

Updated : March 08, 2021 01:55 PM IST

Just Dial shares rallied after the company signed an advertising agreement with Star India for the Indian Premier League (IPL).

The stock rose as much as 9.2 percent to its day's high of 957.40 per share on the BSE post the announcement.

Shares of Just Dial zoomed over 9 percent in trade on Monday after the local search engine company signed an advertising agreement with Star India for the Indian Premier League (IPL).

Pursuant to the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to our previous communication on the launch of our exclusive B2B platform, JD Mart, we hereby inform all relevant stakeholders that Just Dial Limited has signed an advertising agreement with broadcaster Star India Private Limited "Star" for advertising as ‘Co-Presenting Sponsor’ in Indian Premier League - 14 (IPL 2021), to be held in April-May 2021, the company said in an exchange filing.

The stock rose as much as 9.2 percent to its day's high of 957.40 per share on the BSE following the announcement.

The sentiment also buoyed on reports that Tata Digital has held exploratory talks with Just Dial to strike a strategic alliance or pick up a stake in the firm.

Multiple people in the know of the discussion said on condition of anonymity that an initial round of conversations had taken place, although a final outcome was not imminent, an Economic Times report stated.

“Both sides have met for discussions, but it is too early to say anything has been finalised. A lot also depends on how things evolve between the two parties,” said a senior Tata official who was aware of the meeting told the media house.

Published : March 08, 2021 01:55 PM IST

Just Dial shares zoom 9% on signing IPL ad deal

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