Did Mukesh Ambani’s Reliance Just Dial a wrong number for once?
From left, Mukesh Ambani, chairman and MD, Reliance Industries Ltd.; VSS Mani, founder and managing director, Just Dial Services Pvt Ltd.
Synopsis
The much-hyped Just Dial deal saw Reliance Industries buy a controlling stake for over INR5,700 crore in the company in 2021. Two years since, the stock has struggled to get past the deal price. The hyperlocal story seems to be unravelling with some new verticals closing down. While the management plays it down as a routine measure, difficult choices loom.
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