 "Talwalkars Healthclubs, Talwalkars Better Value tank over 50% in six days")
Shares of Talwalkars Healthclubs and Talwalkars Better Value Fitness (TBVFL) continued to reel under pressure, falling over 50 per cent in the past six trading days.
Talwalkars Healthclubs (Rs 41) and TBVFL (Rs 22) were down 5 per cent each on Thursday. Both have tanked 55 per cent since July 18 and are trading at their respective all-time low levels. They have hit the lower circuit for six straight days, with no buyers seen on the counters.
At 11:05 am, there were pending sell orders for 2.2 million shares, representing 7 per cent of total equity of Talwalkars Healthclubs and TBVFL, each on the NSE and BSE.
Asked for a clarification on price movement, Talwalkars Healthclubs and TBVFL last week told the BSE that they were not aware of any information and/or event which may have caused such downward movement in their company's share.
According to the June 2019 shareholding pattern filed by these companies, the promoters of Talwalkars Healthclubs (77 per cent) and TBVFL (76 per cent) have pledged more than 75 per cent of their share holding.
In the 2018 annual report, TBVFL said the company will engage in monetising its physical infrastructure of making it possible to moderate the overall load on the company’s Balance Sheet. The membership enrollment and fees would be leveraged to service financial obligations and liquidate debt.
In 2016, TBVFL had demerged the gym business by transferring the same to Talwalkars Healthclubs (formerly Talwalkars Lifestyles) with the objective to generate superior value, ARPU and focus. TBFVL focuses on scaling its wellness segments like club, yoga, nutrition, Zumba, weight loss etc. Talwalkars Healthclubs had issued and allotted equity shares to the shareholders of TBVFL in the share entitlement ratio of 1:1.
Talwalkars Healthclubs (Rs 41) and TBVFL (Rs 22) were down 5 per cent each on Thursday. Both have tanked 55 per cent since July 18 and are trading at their respective all-time low levels. They have hit the lower circuit for six straight days, with no buyers seen on the counters.
At 11:05 am, there were pending sell orders for 2.2 million shares, representing 7 per cent of total equity of Talwalkars Healthclubs and TBVFL, each on the NSE and BSE.
Asked for a clarification on price movement, Talwalkars Healthclubs and TBVFL last week told the BSE that they were not aware of any information and/or event which may have caused such downward movement in their company's share.
According to the June 2019 shareholding pattern filed by these companies, the promoters of Talwalkars Healthclubs (77 per cent) and TBVFL (76 per cent) have pledged more than 75 per cent of their share holding.
In the 2018 annual report, TBVFL said the company will engage in monetising its physical infrastructure of making it possible to moderate the overall load on the company’s Balance Sheet. The membership enrollment and fees would be leveraged to service financial obligations and liquidate debt.
In 2016, TBVFL had demerged the gym business by transferring the same to Talwalkars Healthclubs (formerly Talwalkars Lifestyles) with the objective to generate superior value, ARPU and focus. TBFVL focuses on scaling its wellness segments like club, yoga, nutrition, Zumba, weight loss etc. Talwalkars Healthclubs had issued and allotted equity shares to the shareholders of TBVFL in the share entitlement ratio of 1:1.
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