Sunday, 19 November, 2017

Just Dial jumps on reports of possible acquisition by Google

Just Dial Shares Still 8% Higher After Surging 20% High In Intraday Trading Just Dial shares soar amid reports of takeover by Google
Terence Owen | 11 November, 2017, 03:37

Global internet giant Google is in talks with domestic hyper-local search engine Just Dial to buy the latter's business, Business Standard reported.

It hit a high of Rs 549.85 during the day, up nearly 20% from the previous close of 459, before paring some gains.

The extraordinary movement in Just Dial's share price prompted the National Stock Exchange to seek an explanation from the local search engine over the news report.

Just Dial share price was off day's high in afternoon after its clarification.

Google has expanded its services in India by including business listings on Google Map and launch of Google Tez mobile payment app. Increased investor interest in the stock comes on the back of news report that Google is in discussion with the company for an acquisition deal.

Sources in the know of the deal told the newspaper that the companies entered into exclusive talks a couple of months ago, after having discussed it for some time.

Dems Push Back Against Donna Brazile Following Her "Tell-All" Memoir
Either way, Brazile's new memoir adds her voice to the many others trying to make sense of the 2016 election. It felt like it was a cult, ' Brazile said Wednesday on Morning Joe in reference to the Clinton campaign.

Meanwhile, reports have been doing the rounds on social media that Google was likely to invest in Bangalore-based hyperlocal delivery startup Dunzo Digital Pvt. Ltd.

On November 6, 2017, Just Dial reported about 26.5 per cent rise in standalone net profit at Rs 37.5 crore for the September quarter.

The company had reported a net profit of Rs 29.6 crore in the corresponding quarter a year ago, Just Dial had said in a BSE filing.

Just Dial, which was valued a staggering $1.8 billion in January 2014, has seen its value erode sharply and revenue plateau over the years.

Which was India's most valuable consumer Internet venture in early 2014?.

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