Justdial Denies to Google Offer, Stock Gets almost 20% Raise

Share

Shares of Just Dial advanced almost 20 per cent in early trade on Friday after reports that the internet giant Google is in talks with the local search engine provider to acquire its business.

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 Stoke Exchange said, "With respect to the recent news item captioned "Google, Just Dial in deal talks".

Alibaba sales surge to $5 billion in 15 minutes on Singles Day
Singles Day is a holiday in China , in which unmarried men and women celebrate their single lifestyle. In two minutes of sales time, Alibaba's gross merchandise volume totaled $1 billion.

"It may take some more time before the discussions are finalised", he added.

Business Standard reported on Thursday that Just Dial was in talks to acquire Just Dial.

Following the company's detailed explanation - denying claims that Google proposed to acquire it - Just Dial's gains reduced - trading at Rs 492.25 at 12:11, against the days highest Rs 549.85. In a clarification, the company later said, "As mentioned during our previous media, investor and analyst interactions, Justdial, as part of its regular business, does meet various relevant corporates for exploring any business/strategic opportunities and tie-ups".

Takes Position in NXP Semiconductors NV (NXPI)
The expected future growth in earnings per share ("EPS") is an incredibly important factor.in identifying an under-valued stock. A low ratio specifies that the company is possibly undervalued, while a higher than average P/S may suggest overvaluation.

Just Dial share price was off day's high in afternoon after its clarification. Google has teamed up with UrbanClap, Faasos, Freshmenu, Holachef and Box8 to provide services, putting it in competition with Just Dial.

A Google spokesperson told VCCircle in an emailed response that the company didn't comment on rumours.

However, revenue for the past two quarters stood at Rs 194 crore (September quarter) and Rs 190 crore (April quarter).

Eminem Drops New Single "Walk On Water" Ft. Beyonce [Stream]
But Eminem has been hard at work, creating a fictional pharmaceutical company, Revival , to promote the new album. Late last month, in October, Eminem's manager revealed the first details of the Detroit rapper's new album.

Share