Just Dial Clarifies On Takeover Talks With Google
"With respect to recent news item captioned 'Google, Just Dial in deal talks'. In this regard, Exchange have advised the Company to provide clarification/confirmation on the news item in detail," stock exchange said.
The stock exchange further asked to explain as to "Whether such negotiations were taking place and b) whether you/company are aware of any information that has not been announced to the Exchanges which could explain the aforesaid movement in the trading."
The company responded to the NSE's query at 11.56 am. "As of now, there is no proposal in respect of acquisition of Just Dial by Google and news published in Business Standard is factually incorrect," the company said in a stock exchange filing.
In the aftermath of company's response, the scrip pared most of the gains. At 12.11, the scrip traded at Rs 492.25 (against the day's high of Rs 549), only 7.22% higher than the previous session's closing on BSE.
The company had posted net profit after tax of Rs 37.46 crore in the second quarter of 2018 fiscal.
In the first quarter, the company posted Rs 38.16 crore profit after tax.
However, revenue for the past two quarters stood at Rs 194 crore (September quarter) and Rs 190 crore (April quarter).