Spandana Sphoorty soars 18% as ex-MD Padmaja, board resolve differences

The company informed BSE, that its board and the founder and ex-MD Ms. Padmaja Reddy have resolved their differences and agreed to part ways on amicable terms.

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Deepak Korgoankar Mumbai
Shares of Spandana Sphoorty Financial soared 18.5 per cent to Rs 395 on the BSE in Thursday’s intra-day trade after the company and Ms. Padmaja Reddy resolved their differences and agreed to part ways on amicable terms. The stock of the non-banking financial company has rallied over 37 per cent in past three trading days. In comparison, the S&P BSE Sensex was up 1.2 per cent at 52,435 points as of 11:00 AM.

Ms. Padmaja Reddy, the founder of Spandana Sphoorty Financial, resigned from her position as the Managing Director of the company on November 2, 2021. Subsequently, certain

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First Published: Jun 23 2022 | 9:57 AM IST

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