Shares of Educomp Solutions today rose sharply by 10 per cent amid reports that a US-based firm is in talks to acquire a majority stake in the company.
The company's stock surged 9.90 per cent to Rs 27.75, its upper circuit limit at the BSE.
On the NSE, the scrip rallied 10 per cent to touch its upper circuit at Rs 27.50.
As per the reports, a large US-based strategic acquirer is in fairly advanced talks to buy majority shares in Educomp Solutions, a diversified education services provider.
Meanwhile, in a clarification to the BSE, Educomp Solutions said, "The report on Educomp being in fairly advanced talks with a large US-based strategic acquirer to buy majority shares in Educomp Solutions is without basis."
"... there was no such development at Educomp," the company added.