Tree Line Asia Master Fund sells Just Dial shares worth Rs94 crore

Shares of Just Dial lost 5.09% to close at ₹1018.15 on Monday on the NSE, while the benchmark index, Nifty lost 1.07% to close at 15,752.40 points. (Justdial)Premium
Shares of Just Dial lost 5.09% to close at ₹1018.15 on Monday on the NSE, while the benchmark index, Nifty lost 1.07% to close at 15,752.40 points. (Justdial)
 1 min read . Updated: 19 Jul 2021, 09:16 PM IST Ashwin Ramarathinam

Hedge fund Tree Line Asia Master Fund (Singapore) on Monday sold over nine lakh shares worth ₹94.20 crore in local search engine Just Dial through open market transactions.

According to data available through stock exchanges, Tree Line Asia Master Fund (Singapore) offloaded 9, 01,387 shares of Just Dial.

The shares were sold at an average price of ₹1025.06 through bulk deal translating into a deal of ₹94.20 crore.

Meanwhile, Plutus Wealth Management LLP acquired nine lakh shares of the company for ₹1022.13 apiece valuing the transaction at ₹91.99 crore.

According to the latest shareholding pattern, Tree Line Asia Master Fund (Singapore) Pte Ltd held 31.87 lakh shares, or 5.12%, stake in the local search engine.

Just Dial reported a net loss of ₹3.52 crore in the quarter ended June 2021 as against net profit of ₹83.32 crore during the previous quarter ended June 2020. Sales rose 1.83% to ₹165.41 crore in the quarter ended June 2021 as against ₹162.43 crore during the previous quarter ended June 2020.

From the last one year, shares of Just Dial gained 172.23% against a rise of 44.49% in the benchmark index, Nifty.

Shares of Just Dial lost 5.09% to close at ₹1018.15 on Monday on the NSE, while the benchmark index, Nifty lost 1.07% to close at 15,752.40 points.

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