Just Dial extends rally after HDFC Mutual Fund buys stake

The stock surged 10% to Rs 548 in noon deal, extending its Friday's 9% surge on the NSE.

Just Dial has surged 10% to Rs 548 on the National Stock Exchange (NSE) in noon deals, extending its Friday’s 9% surge, after HDFC Mutual Fund bought one percentage point stake in the company for about Rs 35 crore via block deals.

On November 10, 2017, HDFC Mutual Fund had purchased 680,000 shares representing 1% of Just Dial through block deals.

HDFC Mutual Fund bought 340,000 shares at price of Rs 520 per share, and another 340,000 shares at price of Rs 522.79 per share on the NSE, the block deal data shows. 

Samsung Asia Leaders Securities Master Investment Trust Equity, too, purchased 355,000 shares of Just Dial at price of Rs 513.21 per share. CLICK HERE FOR BLOCK DEAL DATA.

On Friday, the stock zoomed 20% and touched high of Rs 551 on the NSE in intra-day trade after the Business Standard reported that Google and Just Dial in deal talk.

Just Dial as part of its regular business, does meet various relevant corporates for exploring any business/strategic opportunities and tie-ups.

However, we would like to clarify that as of now there is no proposal in respect of acquisition of business of Just Dial by Google and news published in Business standard dated 10"'November, 2017 is factually incorrect, Just Dial said in a regulatory filing.

Further, when there is any development to disclose, Just Dial shall do so at appropriate time, it added.

At 03:07 PM; the stock was trading 7% higher at Rs 535 on the BSE, as compared to 0.86% decline in the S&P BSE Sensex. The counter has seen huge trading volumes with a combined 11.94 million shares changed hands on the NSE and BSE so far.