The board of Aster DM Healthcare approved the proposal to buyback 52.14 lakh shares of the company at Rs 210 each.
The board of directors of Aster DM Healthcare at its meeting held on Thursday, 9 January 2020, approved a proposal to buyback up to 57,14,285 equity shares, or 1.13% equity, of the company for an aggregate amount not exceeding Rs 120 crore. The buyback price is set at Rs 210 per share. The record date for buyback is 24 January 2020.Aster DM Healthcare jumped 4.68% to Rs 167.70. The stock hit a high of Rs 171.60 and a low of Rs 162.35 so far during the day.
Aster DM Healthcare is one of the largest private healthcare service providers operating in multiple GCC states and is an emerging healthcare player in India.
On a consolidated basis, Aster DM Healthcare's net profit fell 71.7% to Rs 3.12 crore on a 13.6% increase in the net sales to Rs 2086.88 crore in Q2 September 2019 over Q2 September 2018.
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