Just Dial is very much in the limelight today on account of two news. First, this is announced by the company itself – it has signed an advertising agreement with broadcaster Star India for advertising as ‘Co-Presenting Sponsor’ in Indian Premier League - 14 (IPL 2021), to be held in April-May 2021.
But this news is not the stock-mover. The second news is – Economic Times has put out a report stating that the digital arm of Tata’s, Tata Digital is looking at the option of either striking a strategic alliance or buying stake in Just Dial to help the Tata’s get a foothold in this e-commerce space.
The news is that initial talks between the two have happened but nothing finalized yet. There is neither confirmation nor denial on this news from the companies.
The stock opened over 5.5% higher at Rs.925 and went on to hit an intraday high at Rs.957.40, not too far from its 10% UC of the day at Rs.963.60.