The stock advanced by 19.77 per cent to settle at Rs 21.20 - its highest trading permissible limit on the BSE.
At NSE, it jumped 19.77 per cent to Rs 21.20.
As per media reports, Allied Blenders & Distillers has entered the final round of negotiations to acquire a controlling stake in Tilaknagar Industries.
Meanwhile, in a clarification to the BSE, Tilaknagar Industries said: "We are unable to comment on market speculation and wish to clarify that given the nature of TI's business, sector dynamics and to make business progress, the company at several time points is exploring various types of business associations, tie-ups, relationships across players in the domestic and international markets, which may or may not fructify.
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