Just Dial: Taking on the Flipkarts and Amazons in Ecommerce

Anyone tracking this.

Last quarter results were impressive

Kotak and ICICI both have given a buy call post results with targets of 840 and 750 respectively.

Valuation is <20x excluding cash which is cheap for an internet company which can scale multiple times.

This can be a multibagger if all triggers play out. Worst case downside shouldn’t be more than 20-25% as it holds cash equivalent of 80% of Mcap.

A couple of triggers:

1. JD Expert: Similar to Urban Company
2. B2B : Similar to IndiaMart
3. Synergy benefits with Reliance Retail in B2C space

Disc: Taken a tracking position post results.