NEW DELHI: Shares of Just Dial climbed over 5 per cent in Thursday’s trade ahead of the board meet on a share buyback proposal later in the day.

Taking its recent rise to fourth session, the scrip jumped 5.43 per cent to hit a high of Rs 411 on BSE. The stock has jumped 24.69 per cent in the four-day period.

The current Covid-19 crisis and the resultant lockdown is seen to have a significant impact on the businesses of all internet companies.

JM Financial in a note earlier this month said Just Dial is consistently facing structural issues such as it’s inabilty to increase realisations (upsell opportunities) and declining revenue visibility(slowing unearned revenue growth).

"While these factors are true even now and current crisis forces us to cut our EPS estimates for FY21 change by 12 per cent, we note that Just Dial manages one of India’s largest online classifieds database and also has a large number of paying clients," JM Financial said.

Moreover, the company’s cash and investments of Rs 1,540 crore as on December 2019 account for around 75 per cent of its market cap, meaning the market is presently giving very little value to its underlying profitable business, which appears a bit unreasonable, the brokerage had said.

Thursday's price rise breached JM Financial's Rs 410 target for the stock.