Just Dial shot up by over 6 per cent on HDFC Mutual Fund stake purchase

The stock price of Just Dial shot up by nearly 4 per cent in intraday trade on Wednesday, ensued by the announcement of the company that HDFC Mutual Fund bought stake in the company.
 
HDFC Mutual Fund has bought 32,06,663 shares, making 4.6 per cent of the total shares of the company, at Rs 375 per share on the NSE. Whereas, SCI Growth Investments II sold off 13,93,336 shares of the company at Rs 375.27.
 
In a string of sell offs, Sequoia Capital India Growth Investment Holdings I sold 14,94,445 shares at Rs 375.55 and Sequoia Capital India Investments III sold 7,11,036 shares at Rs 375.28.     
 
Till June 2017, about 26.61 lakh shares were held by Sequoia Capital India Growth Investment Holdings I, making 3.83 per cent of the total shares of the company, according to BSE shareholding data.

The stock that opened at Rs 381 per share on BSE and Rs 382.05 per share on NSE, surged in the early trade itself. At 10:45 hrs IST, the stock was trading at Rs 402.70 per share on BSE, up by 4.67 per cent. Whereas, at the same time, the stock was trading at Rs 401.95 per share on the NSE, up by 6.49 per cent.  

The stock had hit its 52-week high of Rs 619.85 per share on March 17, 2015, and its 52-week low of Rs 318.20 on 27 December, 2016, respectively.