Metropolis Healthcare tumbles on high volumes

Metropolis Healthcare fell 9.78% to Rs 1212 on BSE after the counter witnessed block deals in early trade today, 15 April 2020.

On the BSE, the counter clocked a volume of 79.59 lakh shares as against its average trading volume of 6,836 shares in the past one quarter. The stock hit a low of Rs 1152.50 on BSE in early trade today.

On the NSE, the counter clocked a volume of 32.85 lakh shares compared with its average trading volume of 76,087 shares in the past one quarter. The stock hit a low of Rs 1,165.65 on NSE in early trade today.

The media reported that Carlyle group has launched a block deal to nearly exit the multinational pathology chain owner. CA Lotus Investments, an investment arm of Carlyle group, plans to sell 65.51 lakh shares of Metropolis Healthcare. The floor price of the issue has been fixed at Rs 1,110 a share.

CA Lotus Investment held 14.31% stake or 71.79 lakh shares of Metropolis as on 31 December 2019.

Metropolis Healthcare is a diagnostics company in India with a widespread presence across 19 states in India.

On a consolidated basis, the company's net profit jumped 34.8% to Rs 42.07 crore on a 17% rise in net sales to Rs 222.85 crore in Q3 December 2019 over Q3 December 2018.

Currently, the stock is trading 42.55% below its 52-week high of Rs 2110 hit on 03 March 2020. It is 33.94% above its 52-week low of Rs 904.85 recorded on 14 May 2019.

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