Just Dial jumps on reports of possible acquisition by Google
DSIJ Intelligence / 10 Nov 2017
The stock of Just Dial witnessed a surge of 20 per cent during the early hours of trade on Friday. Increased investor interest in the stock comes on the back of news report that Google may acquire the company.
The stock of Just Dial witnessed a surge of 20 per cent during the early hours of trade on Friday. 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.
Just Dial had reported of being in talks with Google for a collaboration to enhance user experience. Earlier, the two companies were competitors. Google, is a subsidiary of Alphabet Incorporated.
Just Dial Limited is a Mumbai-based company providing local search related services in India. The company provides services on Desktop/PC through website, mobile site, mobile Apps and over phone.
In its Q2FY18 earning report Just Dial has reported a Traffic (Unique Visitors) of 105 million, up 37.1 per cent YoY and 4.5 per cent QoQ. Traffic originating on mobile platforms was 65.7 per cent, while from desktop/ PC was 25.2 per cent and on Voice platform was 9.1 per cent. The company had reported total operating revenue of Rs. 194.5 crore for Q2FY18, a growth of 7.9 per cent YoY and 2.3 per cent QoQ.
Google has expanded its services in India by including business listings on Google Map and launch of Google Tez mobile payment app. The company has also entered the food ordering service segment through Google Areo app.
At 10:16 hours Friday, the stock of Just Dial was trading at Rs. 526.50 per share, up by 14.71 per cent.
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