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Talwalkars Better Value Fitness has surged 13% to Rs 235 on reports that British health and fitness group David Lloyd is buying around 20% stake in Mumbai-based the health fitness chain.
The stock opened at Rs 226 and touched a 52-week high of Rs 243 on National Stock Exchange (NSE). The counter has seen huge trading activity with a combined around 840,000 shares changed hands in first 15 minutes of trade on NSE and BSE.
"David Lloyd will purchase 20% stake in Talwalkars for Rs 300 a share, more than 30% premium to the traded price of Rs 207.7 on the stock exchange", the Economic Times report suggests.
The deal, which will be signed at the fitness chain's board meeting on August 7, will help the company expand its reach across the country, added report.
However, in March this year, the company had clarified on the same reports that "There have been no negotiations for sale of any equity in Talwalkars Better Value Fitness Limited (TBVF).
TBVF has an existing alliance with David Lloyd that was entered into in 2012 and that alliance had been duly reported to the Stock Exchange and was reported by the media as well, it added.
The stock opened at Rs 226 and touched a 52-week high of Rs 243 on National Stock Exchange (NSE). The counter has seen huge trading activity with a combined around 840,000 shares changed hands in first 15 minutes of trade on NSE and BSE.
"David Lloyd will purchase 20% stake in Talwalkars for Rs 300 a share, more than 30% premium to the traded price of Rs 207.7 on the stock exchange", the Economic Times report suggests.
The deal, which will be signed at the fitness chain's board meeting on August 7, will help the company expand its reach across the country, added report.
However, in March this year, the company had clarified on the same reports that "There have been no negotiations for sale of any equity in Talwalkars Better Value Fitness Limited (TBVF).
TBVF has an existing alliance with David Lloyd that was entered into in 2012 and that alliance had been duly reported to the Stock Exchange and was reported by the media as well, it added.
