Just Dial Surge 20% on Report of Takeover Talks With Google

The stock of Just Dial registered a surge of 20% during the early hours of trade on Friday. Shares jumped to Rs.549.85, 19.79% higher than the last session's closing of Rs.459 on BSE. Increased investor interest in the stock comes on the back of news report that Google is in talks with Just Dial for an acquisition deal.

The scrip pared some of the gains at 11.30 am, the scrip traded at Rs. 532.20, 15.95% higher than the previous session's closing on BSE. The stock is, still far lower than its 52-week of Rs. 619 that it attained on March 17 this year.

The company had posted net profit after tax of Rs. 37.46 cr in the Q2FY18.  In the first quarter, the company posted Rs. 38.16 cr profit after tax. Revenue for the last two quarters figured at Rs.194 cr and Rs.190 cr by Sept and April quarter, respectively. 

Rupee strengthens by 11 paise against US dollar

The Indian rupee had staged a mild recovery after a 2-session fall and ended higher by 7 paise at 64.96 against the US currency on fresh bouts of dollar selling by banks and exporters.

The rupee advanced by 11 paise to 64.85 v/s the dollar at the interbank FOREX market on Thursday on improved selling of the U.S currency by the exporters and banks. A weak dollar against other major currencies overseas helped the rupee gains.

High volatility and movements of the U.S dollar in global market largely weighed on trade during the day, although the rupee largely withstood the initial uneasy momentum. Sustained capital inflows into equities and debts largely weighed on trading sentiment.

Meantime, Gold edged higher today, after marking a near 3-week high in the last session, because of  the dollar eased, but  palladium remained close to a more than Sixteen-year high touched on Wednesday. Spot gold rose 0.2% at USD 1,283.81 per ounce at morning hours today. 

Bharat Forge hits 52 week high

Bharat Forge reported stellar results for the quarter ended Sept 30, 2017 on Wednesday. Total sales for Q2FY18, arrived at Rs. 1,258 cr, representing a 0.02% sequential increase and 34.42% Year on Year increase. Operating profit for the recently concluded quarter figured to Rs. 291.3 cr and the Earnings before Interest & Taxes margin stood at 23.2%. The company reported Profit after tax of Rs. 203.7 cr, which represents a sequential QoQ increase of 16.4% and a YoY increase of 60.6%. The stock today opened at Rs. 720 and hit a 52-week high of Rs. 733.65 on the BSE. Bharat Forge has also declared an interim dividend of Rs. 2 per equity share of face value of Rs.2.00

Bharat Forge Limited is a Pune-based Indian multinational company involved in automotive, oil and gas, power, locomotive, construction, mining, marine and aerospace industries.