Aster DM Healthcare gains as its arm to acquire 99.99% stake in Cantown Infra Developers
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Aster DM Healthcare is currently trading at Rs. 223.30, up by 1.40 points or 0.63% from its previous closing of Rs. 221.90 on the BSE.
The scrip opened at Rs. 221.90 and has touched a high and low of Rs. 224.50 and Rs. 218.50 respectively. So far 5411 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 275.45 on 04-Nov-2022 and a 52 week low of Rs. 158.00 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 230.05 and Rs. 218.50 respectively. The current market cap of the company is Rs. 11176.60 crore.
The promoters holding in the company stood at 37.88%, while Institutions and Non-Institutions held 20.76% and 41.36% respectively.
Aster DM Healthcare’s material subsidiary -- Malabar Institute of Medical Sciences (MIMS) has entered into an agreement to acquire 99.99% stake in Cantown Infra Developers on January 14, 2023. Cantown Infra Developers owns land next to the Boundary of Aster MIMS Kannur, the entity has no turnover in FY21-22 except for rent received from letting the land out for car parking facility to Aster MIMS Kannur.
Aster MIMS Kannur has reached its maximum possible capacity. Considering the huge potential and possibilities, it is proposed to expand the capacity of Aster MIMS Kannur for which additional land is required therefore it is proposed to acquire Cantown Infra Developers.
Aster DM Healthcare operates as a healthcare company in the Middle East, India, and the Far East. It operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems.
