Aster DM Healthcare surges as its arm acquires 20.40% stake in Aasraya Healthcare LLP
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Aster DM Healthcare is currently trading at Rs. 489.10, up by 14.40 points or 3.03% from its previous closing of Rs. 474.70 on the BSE.
The scrip opened at Rs. 474.70 and has touched a high and low of Rs. 495.15 and Rs. 472.20 respectively. So far 85709 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 486.65 on 16-Feb-2024 and a 52 week low of Rs. 217.00 on 01-Mar-2023.
Last one week high and low of the scrip stood at Rs. 495.15 and Rs. 454.20 respectively. The current market cap of the company is Rs. 24433.68 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 subsidiary -- Dr. Ramesh Cardiac and Multispecialty Hospital (DRCMHPL) has acquired 20.40% stake in Aasraya Healthcare LLP on February 27, 2024. DRCMHPL would be contributing further capital in Aasraya Healthcare LLP and overall DRCMHPL shall be holding 51% stake in LLP. The objective of acquisition is to provide the healthcare Services including through Hospitals, outreach clinics, camps and tele-medicine centres.
The transaction is expected to complete on or before October 31, 2024 as it is the date of completion of construction of the proposed Healthcare facility.
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.
