Just Dial just tanked!

Just Dial is amongst the top losers on the BSE currently. The stock fell 4.5% in the opening bell session to go to the days low point at Rs.365 and has since then recovered to Rs.373 levels currently.

The marketmen are spooked by the resignation of its CFO – Mr.Ramkumar Krishnamachari. It does not happen very happen that the going away of a CFP affects the sentiments so badly. But because the stock is already on a weak footing, this just added on to the worry.

To compound matters, Morgan Stanley, which tracks this stock, put out a report stating that it going “underweight” on the stock and stated that the resignation of the CFO could further jeopardize the future growth strategy of the company.

Morgan Stanely said, “ lack of aggression and focussed execution could continued to post challenges in the wake of intense competition from both local and global companies.”