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Spanco shares jump 20 pct in trade

Photo

A broker looks at computer screens at a stock brokerage firm in Mumbai May 10, 2010. REUTERS/Arko Datta/Files

Shares in Spanco rose 20 percent to hit the upper trading limit and a 52-week high after the company said it has got distribution franchise from Maharashtra State Electricity Distribution Co. worth 70 billion rupees.

Spanco shares closed nearly 15 percent higher at 199.45 rupees with volumes of over 2.5 million shares.

For the year the counter has given a positive return of over 200 percent, do you think it is the right time to invest in the counter?

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