Healthcare Global jumps after RBI hikes FPIs investment limit

Healthcare Global Enterprises rose 6.51% to Rs 296.90 at 9:39 IST on BSE after the central bank hiked foreign investment limit in the stock to 100% from 24% earlier.

Meanwhile, the S&P BSE Sensex was up 52.45 points, or 0.15% to 35,312.74.

On the BSE, 5,260 shares were traded in the counter so far, compared with average daily volumes of 21,206 shares in the past one quarter. The stock had hit a high of Rs 305 and a low of Rs 291 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 underperformed the market over the past 30 days till 18 January 2018, falling 1.74% compared with 4.39% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.90% as against Sensex's 8.86% rise. The scrip had also underperformed the market in past one year, rising 16.56% as against Sensex's 29.12% rise.

The small-cap company has equity capital of Rs 86.88 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) yesterday, 18 January 2018, notified that the foreign investment limit for investment by Foreign Portfolios Investors (FPIs) in Healthcare Global Enterprises has increased from 24% to 100% of its paid up capital. HealthCare Global Enterprises has passed necessary resolutions of its board of directors and general body.

Further, owing to the above increase in the investment limit, it is notified that the aggregate shareholding by FPIs in HealthCare Global Enterprises has gone below the prescribed FPIs investment limit for the company. Hence, the restrictions placed on the purchase of shares of the above company by FPIs are withdrawn with immediate effect.

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 a leading speciality healthcare provider with a focus on cancer care and reproductive medicine. Under the HCG brand, the company operates 20 comprehensive cancer centers across India and Africa, and has brought advanced cancer care to the doorstep of millions of people.

Powered by Capital Market - Live News