Infosys, HDFC and Sun Pharma fell more than 1 percent while ITC continued to be top gainer with 4 percent rally. ICICI Bank, Tata Motors, HUL, Bharti Airtel and Adani Ports gained over a percent.
Local search engine Just Dial reported 25.08 percent decline in net-profit at Rs 35.33 crore for the quarter ended March 31.
The company’s focus is on the execution of JD Omni, Krishnamachari said, adding, Omni’s customer run rate in the last one and half months was at 2,000-2,500. There has been a lot of synergy between its Search and Search Plus engine, he added.
He believes Just Dial’s margin may be under pressure in the near-term due to investments that will have to be made in FY17. Further, he said one-time ad spends will start in June and will be spread over the coming quarters.