Leadership reset revives rerating hopes at Just Dial

Just Dial has appointed Dinkar Ayilavarapu, formerly head of Flipkart Wholesale, as new CEO effective August 1, succeeding founder VSS Mani, with Dinesh Taluja named CFO. The leadership reset is expected to drive a valuation rerating, with the stock currently trading at a P/E of about 10 versus its historical average of over 30 after a 40% decline over 12 months. The new management is expected to scale up B2B/SME presence and deploy AI-led platform solutions, backed by strong cash and investments of Rs 6,022 crore as of the June quarter, though execution amid intense competition remains a challenge.