Monday, May 10, 2010

Talwalkars Shares Make Robust Debut

“Talwalkars Better Value Fitness Ltd. Monday made a strong stock-exchange debut, with its shares closing 27% higher than their issue price on the first day of trading, aided by a positive market sentiment and prospects of the health-club operator posting robust earnings. Shares of the company--which raised 774.4 million rupees ($17 million) by selling shares at 128 rupees each--opened at 138 rupees on the Bombay Stock Exchange and traded between 132 rupees and 167.70 rupees. They closed at 162.60 rupees, with more than 18.48 million shares changing hands, compared with the benchmark Sensitive Index's 3.4% rise.”

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