Narayana Hrudayalaya gains after commencing operation at new hospital in Katra

Narayana Hrudayalaya rose 1.46% to Rs 299 at 11:20 IST on BSE after the company said it commenced operations at its new hospital in Katra at Udhampur district of Jammu and Kashmir on 8 April 2016.

Meanwhile, the S&P BSE Sensex was down 19.47 points or 0.08% at 24,654.37.

On BSE, so far 3,110 shares were traded in the counter as against average daily volume of 10,000 shares in the past two weeks. The stock hit a high of Rs 301.20 and a low of Rs 296 so far during the day.

Narayana Hrudayalaya announced on Saturday, 9 April 2016, that it commenced operations at its newest hospital "Shri Mata Vaishno Devi Narayana Superspeciality Hospital" in Katra at Udhampur district of Jammu and Kashmir on Friday, 8 April 2016.

Shares of Narayana Hrudayalaya entered stock exchanges on 6 January 2016. On that day, the stock debuted at Rs 291 on BSE, a premium of 16.4% compared with its initial public offer price (IPO) of Rs 250 per share. It settled at Rs 336.70 on BSE, a premium of 34.68% over the IPO price.

Based on the consolidated financial performance, Narayana Hrudayalaya reported net profit of Rs 12.48 crore on revenue from operations of Rs 783.36 crore for six months ended September 2015. The company registered a net loss of Rs 10.86 crore on revenue from operations of Rs 1363.85 crore for the year ended 31 March 2015.

Headquartered in Bengaluru, Narayana Hrudayalaya operates a chain of 23 hospitals, 8 heart centres and 24 primary care facilities across India. The hospitals provide advanced levels of care in over 30 specialties, including cardiology, cardiac surgery, cancer care, neurology, neurosurgery, orthopaedics, nephrology, urology and gastroenterology. The company is currently in the process of commissioning a dedicated paediatric hospital in Mumbai and a multispecialty hospital at Lucknow in Uttar Pradesh.

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