Aster DM Healthcare's stock experienced a 5% surge in early trading on November 27 due to the announcement of their plans to acquire the remaining 13% stake in Aster Aadhar Hospital, located in Kolhapur.
This acquisition will increase Aster DM's ownership in the hospital from 87% to 100%. The transaction will be completed in two tranches and is expected to be finalized by December 31.
The company's strong performance in Q2, driven by improved Average Revenue Per Occupied Bed (ARPOB) and higher occupancy rates, has instilled confidence in investors.
As of 09:45 AM, Aster DM Healthcare shares were trading at Rs 453 on the National Stock Exchange (NSE).
This strategic move aligns with the trend among hospitals to expand their presence in tier-II and tier-III cities, aiming to meet the growing demand for healthcare services through brownfield projects.