Dr. Lal PathLabs surged 4.76% to Rs 1,230.50 at 15:15 IST on BSE after the company said it is in the process of completing the due diligence and legal documentation for the acquisition of Delta Ria & Pathology.
The announcement was made during market hours today, 21 November 2016.Meanwhile, the S&P BSE Sensex was down 389.78 points or 1.49% at 25,760.46.
On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 11,000 shares in the past two weeks. The stock hit a high of Rs 1,278.55 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,175 so far during the day. The stock had hit a record low of Rs 696.50 on 20 January 2016.
Dr. Lal PathLabs said it expects to complete the acquisition of Delta Ria & Pathology (DRPPL) by 31 March 2017. The company had in May 2016, announced the acquisition of DRPPL.
Dr. Lal PathLabs' consolidated net profit jumped 748.3% to Rs 52.51 crore on 21.52% growth in total income from operations to Rs 262.17 crore in Q2 September 2016 over Q2 September 2015.
Dr. Lal PathLabs is a provider of diagnostics and related healthcare tests and services in India. Customers include individual patients, companies and institutions, healthcare providers as well as hospital and clinical labs.
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