Global Health shares jump 4% on Assam Grid's offer for hospital land deal

Shares of Global Health surged nearly 4 per cent on Tuesday after the company received an offer from Assam Electricity Grid Corporation Limited (AEGCL) to acquire a land parcel for setting up a super speciality hospital.

 

Global Health's stock rose as much as 3.91 per cent during the day to ₹1,242.7 per share, the biggest intraday gain since March 18 this year. The stock pared gains to trade 3 per cent higher at ₹1,231.8 apiece, compared to a 0.69 per cent advance in Nifty 50 as of 10:38 AM. 

 

Shares of the company snapped their three-day fall on Tuesday. The stock has risen 15 per cent this year, compared to a 5.7 per cent fall in the benchmark Nifty 50. Global Health has a total market capitalisation of ₹33,265.8 crore.

 

 

The Medanta chain of hospitals has received an offer from AEGCL, Government of Assam, to acquire a land parcel measuring 3 acres in Guwahati, Assam. This will be used for setting up a super speciality hospital, according to an exchange filing on Monday. 

 

The management is currently working on the next steps, and we shall keep the exchanges and investors updated on any material development in this regard, the company said in the statement. 

 

The Company is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India in terms of bed capacity with key specialties of cardiology and cardiac science neurosciences oncology digestive and hepatobiliary sciences orthopaedics liver transplant, and kidney and urology. 

 

Global Health reported a 16 per cent increase in its profit after tax to ₹143 crore for the third quarter that ended December 31, 2024, driven by higher patient volume. The healthcare provider posted a profit after tax of ₹123 crore in the October- December quarter of the last fiscal year. 

 

Revenue from operations rose to ₹943 crore in the third quarter as compared with ₹836 crore in the year-ago period, Global Health said. On a consolidated basis, the company’s earnings before interest, tax, depreciation, and amortisation (Ebitda) grew by 8.4 per cent to ₹253.8 crore in Q3 FY25, with Ebitda margins down to 26.5 per cent from 27.4 per cent in Q3 FY24.