India's Spandana Sphoorty terms report of sale 'incorrect'; stock slips

Spandana Sphoorty Financial

15/06/2023 07:06

** Shares of Spandana Sphoorty Financial  SPAD.NS  down as much
as 3.9% to 705.10 rupees
    ** Media reports say private equity firm Kedaara Capital is
in discussion with Yes Bank to explore a deal to sell off SPAD
    ** Co, however, clarifies reports of the potential sale as
"incorrect and speculative"
    ** More than 185,000 shares change hands as of 11:32 a.m.
IST, 1.2x times their 30-day moving avg
    ** All four analysts rate the stock as "strong buy;" median
PT is 836.00 rupees - Refinitiv data
    ** Stock up ~25% this year, up to last close

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))