Talwalkars offers 'better value'

Known for its branded services for 'fitness', the Talwalkars on Wednesday offered investors 'better value' as shares of the company soared nearly 12% on the back of expansion in the business. The sharp gains in the stock of Talwalkars Better Value Fitness (TBVF) were recorded amid significantly large volumes, as a total of 7.1 lakh shares changed hands on the day, compared with the two-week average of 23,000 shares on the BSE.

The company, the largest fitness chain in the country, has announced opening of its new health club at Tiruchirapalli in Tamil Nadu. It now owns 92 health clubs in 44 towns across the country. After touching an intra-day high of 234.5, the stock closed with a gain of 11.9% at 224 on the BSE. Last year, TBVF successfully raised funds through its initial public offering at 128 per share. Since then, it has been outperforming the market and is among a handful of newly-listed companies offering handsome returns to investors.