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Apollo Hospitals denies allegations related to pharmacy business de-merger

On Tuesday, the stock price of AHEL came down by Rs 97.80 to end the day at Rs 1,430.85 per share

Apollo Hospitals
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Apollo Hospitals

Gireesh Babu Chennai
The stock price of Apollo Hospitals Enterprise Ltd (AHEL) saw a 6.40 per cent decline on Tuesday following reports alleging a de-merger of pharmacy business by the company might hurt its minority shareholders. The company refuted the allegations and said value accretion from growth of the standalone pharmacy business, the front end of which was now undergoing a de-merger process, would "create significant value for AHEL shareholders."

It added that an eventual merger of Keimed — the pharmaceutical distribution company from which Apollo Pharmacy has been purchasing medicines and in which the promoters of Apollo Hospital Group held a stake

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First Published: Oct 29 2019 | 10:05 PM IST

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