Market Eye: India's Talwalkars shares hit more than 13-month high on stake sale report

Talwalkars Better Value Fitness

27/03/2014 08:07

* Shares in India's Talwalkars Better Value Fitness Ltd 
 TALW.NS  surge as much as 12.8 percent to 182.40 rupees, their 
highest in more than 13 months, after the Economic Times daily 
reported UK health and fitness group The David Lloyd is looking 
to buy around 20 percent in the company, citing two people 
familiar with the matter. (http://r.reuters.com/vab97v) 
* However, Talwalkars Chief Financial Officer Anant Gawande 
neither confirmed nor denied the stake sale talks. Gawande tells 
  business news channel CNBC-TV18 that the company does not need 
capital.  
* Talwalkars officials were not immediately reachable by 
Reuters. 
* Talwalkars shares up 9.1 percent at 176.50 rupees as of 0803 
GMT. 
 
 (dipika.lalwani@thomsonreuters.com/; 
dipika.lalwani.thomsonreuters.com@reuters.net)