Several large sized blocks were traded on-board and the counter reached an intra-day peak of Rs 5 and ended with a gain of 7.1 per cent at Rs 4.50.
Analysts said that after the market closed on Tuesday, there was wide speculation that parliamentarian D_uminda Silva's brother and ABC Radio Chairman Raynor Silva will be appointed to the Touchwood board.
"This partly caused the retail rally today," an analyst said. Last week Touchwood announced changes to its directorate with the appointment of a football administrator amidst some bizarre developments which included the appointment of D_uminda Silva, who is a suspect in a murder case, but the latter resigned the next day. (DEC)