Just Dial, which had been on the top losers on the BSE almost through the entire week, today, at the end of the week, has been the top gainer right since opening bell.
The stock surged almost 20% to Rs.549.85; though it has come of this intra day high, it remains firmly in the green, some 14% up.
The stock is rallying on unconfirmed news reports that Google is in talks with the company to acquire its business. This not a baseless rumour as in the past too, there have been the same talks and its no secret that Google is indeed trying to acquire Just Dial for some time now.
In fact, Just Dial and Google had got into some “exclusive talks” couple of months ago but nothing has been finalized yet.
It makes business sense for Google to pursue Just Dial as it will give access to a database of over 20 million pan-Indian listings.
Neither Google or Just Dial have neither confirmed nor refuted this report yet.