Meanwhile, the BSE Sensex was up 345.17 points, or 1.37%, to 25,573.67.

On BSE, so far 1.23 lakh shares were traded in the counter, compared with an average volume of 5.55 lakh shares in the past one quarter. The stock hit a high of Rs 798.75 and a low of Rs 772.60 so far during the day. The stock hit a 52-week high of Rs 1,294.25 on 2 July 2015. The stock hit a record low of Rs 377.65 on 12 February 2016. The stock had outperformed the market over the past one month till 6 May 2016, rising 7.50% compared with 1.32% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 38.50% as against Sensex's 2.48% rise.

The mid-cap company has an equity capital of Rs 70.54 crore. Face value per share is Rs 10.

According to media reports, the brokerage firm sees a 37% potential downside in Just Dial stock after it rallied 10% last month. The brokerage reportedly warned of a weak earnings and significant consensus downgrades in 2016 led by inadequate Search Plus (SP) and Just dial (JD) Omni traction. The brokerage estimates Just Dial's two-year revenue and earnings per share (EPS) compound annual growth rate (CAGR) of 16% and 5% respectively. It adds that the company will find it difficult to deliver 6% compounded quarterly growth rate (CQGR) in financial year ending March 2017 (FY 2017) and to add 20,000 paid campaigns every quarter to achieve its 20% revenue growth guidance for FY 2017.

Meanwhile, an another foreign brokerage firm reportedly downgraded the Just Dial stock to neutral from outperform. The brokerage reportedly said that maintaining pace of paid listing growth, particularly outside the top-ten cities and competition from vertical players are key challenges for Just Dial.

Just Dial's net profit fell 16% to Rs 26.99 crore on 11% increase in net sales to Rs 171.33 crore in Q3 December 2015 over Q3 December 2014.

Just Dial started offering local search services in 1996 under the Just Dial brand and is now the leading local search engine in India.