Hospital chain's average revenue per occupied bed increases 2% at Rs 76,100
The Nifty MidCap index has gained 3% from its recent low in the last three days. Amid this these 8 stocks have seen key momentum oscillators turn favourable on the daily chart.
Acquisitions, organic growth to improve profit trajectory
At 09:58 AM, with Rs 1.07 trillion market cap, Max Healthcare was trading 4 per cent higher at Rs 1,099.65, as compared to 0.13 per cent gain in the benchmark index.
Max Healthcare is on an expansion spree planning to add 3500 beds in 3 yrs
Move to help Max establish foothold in North India region
Max Healthcare Institute on Friday said it will acquire 64 per cent stake in struggling Jaypee Healthcare for an enterprise value of Rs 1,660 crore. The company has entered into a strategic agreement with Lakshdeep Group, the promoter of Jaypee Healthcare Ltd (JHL) which is undergoing Corporate Insolvency Resolution Process (CIRP), Max Healthcare said in a regulatory filing. The collaboration and proposed acquisition will give Max Healthcare a controlling stake in JHL, including its flagship asset, the 500-bed Jaypee Hospital in Noida, it added. Under the agreement, Max shall organise debt for repayment of admitted claims of the financial creditors of JHL and proposes to simultaneously acquire 64 per cent stake in the company, with call and put option for the remaining stake, it said. The acquisition is based on an enterprise value of Rs 1,660 crore, reflecting JHL's strong market position, which includes two operational hospitals -- 500-bed Jaypee Hospital, Noida and 200-bed Jayp
Max to invest Rs 230 crore to set up 250 bed hospital in Mohali
Max Healthcare Institute on Thursday said its profit after tax rose marginally to Rs 295 crore for the first quarter ended June 30, 2024. The healthcare firm had reported a profit after tax of Rs 291 crore in the April-June quarter of last fiscal. Gross revenue increased to Rs 2,028 crore for the period under review from Rs 1,719 crore in the year-ago period, Max Healthcare Institute said in a statement. "With the launch of Max Super Specialty Hospital, Dwarka, we have added over 900 beds to our capacity so far and have successfully supplemented the momentum of growth in revenues and profitability before augmentation of bed capacity through brownfield expansion plans in FY26," Max Healthcare Institute Chairman and Managing Director Abhay Soi stated. Meanwhile, consistent performance in existing hospitals and encouraging response to offerings at new units are providing the company with confidence to further pursue growth opportunities, including newly entered built-to-suit arrangeme
Rajesh Bhosale, Equity Technical Analyst at Angel One, expects the Nifty to move in the this 23,200 - 23,600 range this week.