BK Modi-promoted Spice Mobile hit the 10 per cent upper circuit at Rs 24.95 a share in a weak Mumbai market on reports that Japanese phone maker Sony Ericsson is in talks to acquire the company. A total of 54,650 shares of Spice Mobile changed hands today.
The shares jumped 9.91 per cent compared with its previous close. Spice Moble is a part of Spice Corp, a $2-billion multi-faceted group, previously known as MCorp Global. Spice Mobile phones made its entry into the Indian market two years ago, targetting the entry-level handset segment.
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