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Business News/ Companies / News/  Tree Line Asia Master Fund sells Just Dial shares worth Rs94 crore
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Tree Line Asia Master Fund sells Just Dial shares worth Rs94 crore

The shares were sold at an average price of Rs1,025.06 through bulk deal translating into a deal of Rs94.20 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)

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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Published: 19 Jul 2021, 09:16 PM IST
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