Street signs: Aster DM trades at 35% premium, CIL bucks the trend, and more

Aster DM trades at 35% premium

The turbulence in the market notwithstanding, shares of Aster DM Healthcare are commanding a 35 per cent premium in the grey market. The hospital chain company’s Rs 9.8-billion IPO 

opens on Monday. The price band for the IPO is Rs 180 to Rs 190. “Aster DM has low debt and good track record. Also, the government’s thrust on the healthcare sector will benefit the company,” said a broker. Shares of another hospital chain Shalby, which listed in December, are currently trading at a five per cent discount to their IPO price.

Coal India bucks the trend

Shares of Coal India have gone up in a falling market on hopes of hefty dividend by the state-owned miner. Last week, the company’s shares rose two per cent even as the benchmark Sensex fell three per cent. Typically, the cash-rich company pays a hefty dividend in the March quarter to help the government, which holds 78.6 per cent stake, with its finances. Last March, it had paid a dividend of Rs 20 per share. In the previous two years, it had paid Rs 27.4 and Rs 20.7 per share. 

MFs build position in Dilip Buildcon 

Fund managers seem to be liking the Dilip Buildcon counter after it bagged a road project worth Rs 15.2 billion in Odisha from the National Highways Authority of India. The company has incorporated a special purpose vehicle to undertake this project. Some mutual funds (MFs) have been acquiring this stock in the past few weeks, say industry players. In a week, when stock markets collapsed globally, this stock has risen 6.5 per cent – from  Rs 876 to Rs 933. In the past one year, the stock is up a whopping 240 per cent – from Rs 273 to Rs 933.