Spandana Sphoorthy in limelight

Spandana Sphoorthy jumped up today by over 19.5% to an intraday high at Rs.820, very close to its 20% UC of the day at Rs.821.40, on the back of over 12.5 times surge in volumes.

The stock is up on unconfirmed reports that Axis Bank was in talks to acquire the company in a complete sale.

The stock exchange did seek clarification from the company and it gave the standard reply, “all the material information/announcement that may have a bearing on the operations/performance of the company, which includes all the necessary disclosures in accordance with regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, have always been disclosed within the stipulated time and made available in the public domain. The company will make disclosures as per the Listing Regulations whenever it is required to do so.”