Spandana Sphoorty Financial shares soar 20% amid high volumes to see biggest single-day rise in 10 weeks

Spandana Sphoorty Financial shares soar 20% amid high volumes to see biggest single-day rise in 10 weeks

Spandana Sphoorty Financial shares surged 20% on January 7 to get locked in the upper circuit. At close, the shares closed 20% higher at Rs 401.25 apiece. The surge in the stock comes amid high volumes, nearly 11 times rise when compared to the volumes a day ago.

This marks the biggest single day rise for the stock in 10 weeks. The stock had last seen around 10% rise on October 29, when the shares jumped from Rs 383.35 to Rs 418.95 intraday.

Spandana Sphoorty Financial shares are currently up 32% from their 52-week-low record, which was seen on December 26, 2024. The shares, however, are still 68% lower than their 52-week high of Rs 1,243.1.

Market expert Sushil Kedia recently expressed optimism about the stock. “We are waiting and watching the stock. We are letting it consolidate now. Who knows, it can fall 15% to 20%. We will confirm once we get the final signal. The stock became a four bagger in the past also, but later pulled back,” he told CNBC Awaaz.