Healthcare Global gains after board approves preferential allotment

Healthcare Global Enterprises rose 2.27% to Rs 299 at 10:28 IST on BSE after the company said it will issue 11.66 lakh shares at Rs 300 each on a preferential basis to Indgrowth Capital Fund 1.

The announcement was made after market hours yesterday, 22 November 2017.

Meanwhile, the S&P BSE Sensex was up 19.68 points, or 0.06% to 33,581.23.

On the BSE, 1,749 shares were traded in the counter so far, compared with average daily volumes of 32,864 shares in the past one quarter. The stock had hit a high of Rs 308.80 and a low of Rs 295.35 so far during the day. The stock hit a record high of Rs 319.30 on 31 October 2017. The stock hit a 52-week low of Rs 215.45 on 22 March 2017.

The stock had outperformed the market over the past 30 days till 22 November 2017, rising 8.88% compared with 2.93% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.18% as against Sensex's 6.22% rise. The scrip had underperformed the market in past one year, rising 14.87% as against Sensex's 28.83% rise.

The small-cap company has equity capital of Rs 85.71 crore. Face value per share is Rs 10.

HealthCare Global Enterprises announced that its board has approved the proposal for issuance of 11.66 lakh equity shares at Rs 300 each on preferential allotment basis, to Indgrowth Capital Fund 1, a Sebi registered Category lll, Alternative Investment Fund (investor). The shares so allotted to the investor shall be locked in for a period of one year from the date of trading approval.

On a consolidated basis, net profit of Healthcare Global Enterprises rose 100.41% to Rs 9.82 crore on 21.32% rise in net sales to Rs 211.07 crore in Q2 September 2017 over Q2 September 2016.

HealthCare Global Enterprises is engaged in managing cancer hospitals, cancer centers and medical diagnostic services.

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