Talwalkars shares hit more than 13-month high on stake sale report

Shares in Talwalkars Better Value Fitness Ltd surge as much as 12.8 percent to 182.40 rupees, their highest in more than 13 months, after a business 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.

However, Talwalkars Chief Financial Officer Anant Gawande neither confirmed nor denied the stake sale talks. Gawande tells a business news channel 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 1:33 p.m.

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