Shares of Max India were up over 3% at Rs 473 after the company reported strong growth in its third quarter net profit on the back of stake sale in Max Healthcare Institute Ltd (MHIL).
Net profit for the quarter ended December 31, 2014 surged 345% to Rs 329 crore compared with Rs 74 crore in the same quarter last year.
The company in a statement after market hours on Thursday said it has sold 5.67 crore equity shares of its investment in Max Healthcare Institute Ltd at a consideration of Rs 383.17 crore, which has results in a gain of Rs 296.21 crore.
Total income was up 42% at Rs 416 crore compared with Rs 292 crore in the quarter ended December 31, 2013.
The stock opened at Rs 470 and touched a high of Rs 485. At 1PM over 465,000 shares were traded on both the stock exchanges.
