Aster DM Healthcare inches up as its arm inks pact to acquire 26% stake in Usolar Assetco Two
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Aster DM Healthcare is currently trading at Rs. 442.50, up by 1.35 points or 0.31% from its previous closing of Rs. 441.15 on the BSE.
The scrip opened at Rs. 442.25 and has touched a high and low of Rs. 446.50 and Rs. 438.75 respectively. So far 5618 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 451.65 on 06-Feb-2024 and a 52 week low of Rs. 204.40 on 10-Feb-2023.
Last one week high and low of the scrip stood at Rs. 451.65 and Rs. 422.15 respectively. The current market cap of the company is Rs. 22036.02 crore.
The promoters holding in the company stood at 41.88%, while Institutions and Non-Institutions held 48.15% and 9.97% respectively.
Aster DM Healthcare’s material subsidiary -- Malabar Institute of Medical Sciences (MIMS) has entered into definitive agreements on February 06, 2024, to acquire 26% stake in Usolar Assetco Two. MIMS intends to meet a part of its total electricity requirement at its Facility through renewable sources of electrical energy and has accordingly approached the Power Producer to set up a captive solar power plant; Pursuant to mutual discussions, Usolar has agreed to build, develop, install, commission, operate, manage, and maintain a 10 MWp captive solar power plant at the Project Site at Kerala.
MIMS will purchase 100% of the net output electricity generated. As per the Electricity Act, not less than twenty six percent of the ownership is to be held by the captive user. The acquisition is pursuant to statutory requirement. The transaction is expected to complete on or before February 29, 2024.
Usolar Assetco Two is engaged in the business of building, developing, installing, commissioning, operating and maintaining solar power plants in India, and delivering electricity thus generated to various industrial and commercial consumers.
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.
