Trending today: Shares of this healthcare company rise after acquisition for Rs 2 billion consideration!

Today, the company reported a spurt in trading volume of more than 1.96 times.

The shares of Narayana Hrudayala (NH) Ltd are buzzing on the bourses today. As of 12.14 pm, the shares of the company are trading at Rs 721.40 apiece, an increase of 2.08% from the previous close. As against this, the frontline index S&P BSE Sensex is up by 0.11%.

The surge in the share price of Narayana Hrudayala Ltd has come after an announcement made by the company yesterday. As per the exchange filing, the healthcare company signed a business transfer agreement with Shiva & Shiva Orthopaedic Hospital Private Ltd to acquire its orthopaedic and trauma hospital (‘Sparsh Hosur Road’ unit), situated at Narayana Health City campus, Bommasandra Industrial Area, Bengaluru.
Even in the pre-opening session today, the shares of the company witnessed high demand from buyers. Owing to this, the company’s share price surged by 5.7% in the session. With this surge, the shares of Narayana Hrudayala Ltd were one of the top gainers on BSE. 

Today, the company reported a spurt in trading volume of more than 1.96 times. 

It should be noted that this acquisition does not fall within the purview of related party transactions. The acquisition was done on a slump sale basis for aggregate cash consideration of Rs 2 billion and is expected to be completed on or before 31st December 2022. 

The acquisition will add orthopaedic speciality and will supplement the other specialities of the company’s Health City operations by supporting Trauma patients for cardiac, renal, pulmonary, neuro and other multi-organ treatments thereby increasing the breadth of NH’s multispecialty program at its flagship campus. 

Today, the scrip opened at Rs 747, which was also the day’s high, and touched a low of Rs 715.50. So far 20,843 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 775 and Rs 492.10 respectively on BSE.