This Ashish Kacholia-owned stock has zoomed over 50% thus far in November

In Tuesday's intra-day deals, Sastasundar Ventures was locked in the 20 per cent upper circuit at Rs 469.10 on the BSE.

Shares of Sastasundar Ventures (SVL) were locked in the 20 per cent upper circuit at Rs 469.10 on the BSE on Tuesday at 10:47 AM; with only buyers seen on the counter.  A combined 734,000 equity shares had changed hands and there were pending buy orders for a combined 168,621 shares on the NSE and BSE.

Thus far in the month of November, the stock has zoomed 51 per cent from level of Rs 310 on October 31. In comparison, the S&P BSE Sensex was up 3.2 per cent so far in the current month.

Since October, the market price of the company has soared 72 per cent. While, in the past 8 months, the stock price of healthcare service providers has skyrocketed 102 per cent. It had hit a record high of Rs 580 on January 10, 2022.

Investor Ashish Kacholia owned 598,902 equity shares representing 1.88 per cent of total equity of SVL at the end of September 2023 quarter, the shareholding pattern data shows. In December 2021, Kacholia purchased 450,000 shares of the company at a price of Rs 447 per share, the exchange data shows. CLICK HERE FOR MORE DETAILS

SVL on October 10 said that the increase in volume of the securities of the company was purely due to market conditions and absolutely market driven. "We would like to inform you that there is no pending price sensitive information or announcement which needs to be informed to the exchange at this point of time," the company replied to stock exchanges on the clarification sought on increase in volume.

SVL is a multi-business corporate engaged in the business of providing healthcare and financial services.

The board of directors of the company at its meeting held on March 27, 2023 had approved the composite scheme of arrangement between SVL, Microsec Resources Private Limited (MRPL) and Sastasundar Healthbuddy Limited (SHBL).

The proposed Scheme entails the demerger of financial services business undertaking from SVL to MRPL; and amalgamation of SHBL with SVL, subsequent to the completion of demerger referred above.

On rationale behind the scheme, SVL in its FY23 annual report said, the demerger shall lead to creation of a separate, distinct and focused entity housing the financial services business leading to greater operational efficiencies. SHBL is the main operational entity in the Healthcare Segment of the group and therefore its amalgamation with SVL shall result in maximization of overall shareholder value, the company said.

SHBL has entered into the strategic partnership deal of B2C E-pharmacy (Sastasundar Marketplace) with Flipkart Group, wherein the SastaSundar mobile APP and the website have been renamed as FlipKart Health+.

Consequent to the transaction, SHBL holds 24.9 per cent of equity share capital of Flipkart Health Limited (formerly Sastasundar Marketplace Limited) and 75.1 per cent of equity share capital is held by the Flipkart Group. “This partnership will help us to participate in the significant opportunity of Digital healthcare in India and which will also help us to manage our risks appropriately,” SVL said in its annual report.

The partnership with the Flipkart group will help the company to participate in the significant opportunity of Digital healthcare in India and which will also help to manage its risks appropriately. Flipkart health shall leverage Flipkart‘s strength of large consumer base and digital tech capabilities, SVL said.

Meanwhile, for B2B operations, the step down subsidiary company, Retailer Shakti Supply Chain Private Limited is operating a digital platform in the name of RetailerShakti.com and RetailerShakti APP for medicine, wellness products and FMCG products. The operations are now PAN India and it leverage Digital Technology to expand data-driven efficient Supply Chain. The RetailerShakti supplies products to retail pharmacies and local kirana stores.

Another vertical of healthcare is Diagnostic business. The Company has a separate step down subsidiary called Genu Path Labs Limited to operate its diagnostic business. The Company is focussing on Eastern India initially for its diagnostic vertical.