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Healthcare Global climbs after promoter hikes stake

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Capital Market

Healthcare Global Enterprises spurted 5.95% to Rs 122.95 after the company said its promoter, Aceso Company, has acquired 2.60 crore shares in the company, pursuant to a mandatory tender offer on 8 September 2020.

On Tuesday, 8 September 2020, promoter Aceso Company acquired 2.60 crore equity shares or 20.79% stake in Healthcare Global Enterprises. Post acquisition, Aceso Company's shareholding increased to 49.99% from 29.20% earlier.

On a consolidated basis, Healthcare Global Enterprises reported net loss of Rs 45.61 crore in Q1 June 2020 compared with net loss of Rs 20.59 crore in Q1 June 2019. Net sales declined 28% to Rs 193.46 crore in Q1 June 2020 over Q1 June 2019.

 

HealthCare Global Enterprises is a leading speciality healthcare provider with a focus on cancer care and reproductive medicine. Under the HCG brand, the company operates 20 comprehensive cancer centers across India and Africa, and has brought advanced cancer care to the doorstep of millions of people.

The scrip grew 95.31% from its 52-week low of Rs 62.95 hit on 15 April 2020.

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First Published: Sep 10 2020 | 10:24 AM IST

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