Spanco Telesys hits upper limit again

DALAL STREET SPIKES

Spanco Telesystems hit the maximum permissible level of the day, up 20 per cent to Rs 235.10. The scrip has been on the rise for the second consecutive day. It had gone up about 20 per cent in yesterday's trade.

Earlier Reliance Capital had announced plans to acquire about 15 per cent stake in the company. The telecommunications company is a major player in the field of telecom system integration. It also caters to major infrastructures projects with railways, oil companies etc.

The company had recently gained a long-term outsourcing contract worth Rs 5 crore from Air-India for its domestic call centre operations. It had posted a big 126.4 per cent rise in net profit and a 120.5 per cent rise in net sales.