Explained: Why Spandana Sphoorty stock price surged over 15% today
Shares of Spandana Sphoorty Financial surged more than 15% on January 8, hitting an intraday high of Rs 472, driven by a significant influx of trading volumes.
As the stock experienced heavy trading activity, the exchanges sought clarification from the company regarding the price movement.
At around 10 am, Spandana Sphoorty shares were trading at Rs 461.40 on the National Stock Exchange (NSE), marking a remarkable 35% gain in just two days. By 12:56 pm, the stock had risen 14.62% to Rs 459, signalling strong investor interest.
Today’s surge came after the stock’s 20% upper circuit hit in the previous session, which also saw high trading volumes, the highest in the last 10 weeks.
The upswing in the stock price began after well-known chartist…
