Just Dial surges 20% on talks of takeover by Google

The stock surged 20% to Rs 551 on the National Stock Exchange in early morning trade

Just Dial surged 20% to Rs 551 on the National Stock Exchange (NSE) in early morning trade after the media report suggested that the US internet giant Google, a subsidiary of parent Alphabet, is in talks with the company to acquire its business.

Google has been talking to Just Dial for an acquisition for some time. Both the companies entered into exclusive talks about two months ago, the Business Standard reported quoting an investment banker familiar with the discussions.

It may take some more time before the discussions are finalized, added report. CLICK HERE TO READ FULL REPORT.

At 09:19 AM; the stock was trading 11% higher at Rs 511 on the NSE, as compared to a 0.16% decline in the Nifty 50 index. A combined 2.44 million shares changed hands on the counter on the NSE and BSE so far.