Share price of internet company Just Dial Ltd on Monday surged as much as 10 per cent to hit its upper circuit after the firm announced that it has entered into an agreement for advertising for IPL 2021.
On BSE, the stock was locked in the upper circuit limit of Rs 963.6 by surging 10 per cent over the previous close. Similarly, on NSE, the scrip was trading 10 per cent higher at its upper circuit limit of Rs 963.95.
In terms of traded volume, over 36.8 lakh scrips of the firm were traded on exchanges during the trading session.
In a regulatory filing on Sunday, the firm said, “… we hereby inform all relevant stakeholders that Just Dial Limited (“the Company”) has today signed an advertising agreement with broadcaster Star India Private Limited “Star” for advertising as ‘Co-Presenting Sponsor’ in Indian Premier League – 14 (IPL 2021), to be held in April-May 2021.”
This year’s T20 tournament is expected to be held in April-May.
In 2014, the company had signed its first IPL sponsorship with multiple teams including Mumbai Indians, Delhi Daredevils (now called Delhi Capitals), Hyderabad Sunrisers, Kings XI Punjab. It was then when the firm had launched several campaigns during the tournament.