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Sastasundar Ventures soars after Mitsubishi deal

Capital Market 

Sastasundar Ventures jumped 11.87% to Rs 108.85 after Japan's Mitsubishi Corporation signed an agreement to invest Rs 100 crore in Sastasundar Healthbuddy.

Sastasundar is a digital healthcare platform with a mission to provide consistent access to affordable healthcare in convenient manner. Sastasundar is supported by a network of independent pharmacies called Healthbuddies and has an integrated model of online + offline + logistic + data. Sastasundar has also innovated personal health tech solutions to provide personalised services using technology. The announcement was made after trading hours yesterday, 26 August 2019.

"The partnership with Mitsubishi Corporation will help us to connect global resources with local care. It is a milestone in our journey to expand our operations in India," said Ravi Kant Sharma, founder & CEO of SastaSundar.

Shares of Sastasundar Ventures surged 22.09% in two trading sessions to its current market price of Rs 108.85, from a recent closing low of Rs 89.15 on 23 August 2019.

On BSE, 2,406 shares were traded in Sastasundar Ventures counter, compared to a 2-week average of 3,354 shares. The stock hit an intraday high of Rs 112 and an intraday low of Rs 102.30.

It hit a 52-week high of Rs 135 on 17 September 2018 and a 52-week low of Rs 75.05 on 24 January 2019.

Sastasundar Ventures is engaged in building digital network of healthcare managing efficient pharma supply chain and connecting doctors, diagnostic services, healthcare clinics and health information services.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 27 2019. 10:21 IST