Apollo Hospitals' Shares Up Most In 11 Weeks
Shares of Apollo Hospitals gained the most in 11 weeks after the company bought a hospital facility in Gurugram.
Shares of Apollo Hospitals Enterprise Ltd. gained the most in 11 weeks after the company bought a hospital facility in Gurugram.
Its unit, Apollo Hospitals North Ltd., completed the acquisition of the assets forming part of a 650-bed potential facility, which was being set up by Nayati Healthcare and Research NCR in Gurgaon for a consideration of about Rs 450 crore, according to its filing.
"The hospital will establish the group's presence in the millennium city of Gurugram, one of India's fastest growing cities, with an aspirational populace, and substantial brand equity for Apollo Hospitals, owing to its existing footprint in the region. The upcoming integrated healthcare complex located on the Golf Course Road at Gurugram would be commissioned in a span of 24 months," it said.
Reacting to the development, shares of the company rose as much as 4.5%, the most in 11 weeks.
Of the 26 analysts tracking the company, 24 maintain 'buy' and one each recommends 'hold' and 'sell'. The overall consensus price of analysts tracked by Bloomberg implies an upside of 6.4%.