Heard on the Street: Talwalkars Better Value up 6% on buzz Sahara Sports may buy 20% stake

Shares of fitness chain Talwalkars Better Value rose as much as 6% on speculation that Sahara Sports may buy a 20% stake in the fitness company. But, the stock gave up most of its early gains to end at Rs 174.15, up 1.1%.

Nearly 2.8 lakh shares changed hand on BSE compared to a two-week average volume of 85,000. In response to an email query, a Talwalkars spokesperson said, “I cannot reply as per my company policy on market speculation.”

A text message to the Sahara Group spokesperson did not elicit a response. Some brokers said this is a rumour being floated by an operator group to drive up the stock price. Talwalkars shares have declined 27% since its listing in April last year.