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Shares of Just Dial today fell below 2013 issue price as the stock is seen overvalued.
The stock fell as much as 7.4 per cent to Rs 501.40, below the issue price of Rs 530 when it got listed in May 2013.
Traders say the local search engine appears richly valued.
They add that Just Dial faces tough competition from global giants such as Google Inc.
In January, the local search engine company had reported a 16 per cent drop in December quarter earnings from a year earlier.
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