Shares of the companies engaged in healthcare services or hospital business were in demand on Tuesday with Apollo Hospitals Enterprises, Fortis Healthcare and Max Healthcare hitting their respective new record highs on the BSE in intra-day trade. In the past one week, these stocks have outperformed the market by surging between 12 per cent and 15 per cent as compared to a 2 per cent rise in the S&P BSE Sensex on the back of a robust performance in the June quarter (Q1FY22).

Among individual stocks, Apollo Hospitals Enterprises hit a new high of Rs 4,612, up 6 per cent in the intra-day trade today, having soared 14 per cent in the past two trading days.

Shares of Apollo Hospitals Enterprise hit a record high of Rs 2,654 on the BSE in the intra-day trade on Tuesday after the company announced that it has launched a qualified institutional placement (QIP) issue to raise upto Rs 1,000 crore.

Based on Sebi's pricing formula for such transactions,the board has fixed the floor price at Rs 2,508.6 for the share sale. The final issue price, including any discount to the floor price, will be determined in the fund-raising committee meeting on January 22, 2021, Apollo Hospitals said in a statement.

Apollo Hospitals Enterprises (AHEL) is planning to raise around Rs 1,500 crore in the next two months to support its inorganic growth and strengthen balance sheet and its digital platform.

It’s an indicative figure, not definite, Suneeta Reddy, managing director, Apollo Hospitals Group, said. The money, Reddy said, will be deployed in Apollo 24/7, the company’s six-month-old digital health platform, and in supporting growth in the hospital business and deleveraging the balance sheet.

After acquiring IHH Healthcare (IHH's) stake in Apollo Gleneagles Hospital Limited, Kolkata (AGHL), Chennai-based Apollo Hospitals is now scouting for some more acquisitions to expand in north and east India. The hospital chain recently got its board's approval to raise upto Rs 1,500 crore and a portion of it will be used for acquisitions.

Shares of Apollo Hospitals Enterprise jumped 5.2 per cent to Rs 1,501.5 per share on the BSE on Thursday after the company said Insurance Regulatory and Development Authority of India (IRDAl) has approved HDFC's bid to acquire 51.2 per cent stake in Apollo Munich Health Insurance Company (AMHI). Competition Commission of India (CCI), and Reserve Bank of India (RBI) have already approved the deal.

Telangana will embark on a large-scale programme to deliver blood and transport of medical samples via drones. The initiative is co-designed with the World Economic Forum and Healthnet Global Limited, an Apollo Hospitals Group company.

Apollo Hospitals, the country’s largest chain in the segment, says it will join the Ayushman Bharat programme in tier-II and tier-III cities.

In metropolitan cities, however, it will continue to stay away till the government programme raises the rates for surgery and treatment.

Pursuant to the recent orders of the National Company Law Tribunal, Chennai, Apollo Hospitals Enterprise (AHEL) has called for an equity shareholders meeting here on October 21 for approving the scheme of arrangement between AHEL and Apollo Pharmacies (APL), the company has informed the stock exchanges on Monday. In November 2018, Apollo Hospitals had said, to capitalise on the huge growth opportunity and to give greater focus, it had decided to restructure its pharmacy business.

Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here.

The promoter group family of Apollo Hospitals Enterprise Ltd (AHEL) will be issuing five million shares through secondary placement to raise around $101 million (Rs 720 crore).

The aim is to reduce the promoters' pledged shares in the company. The deal, for which Citi Group is acting as placement agent and building the book (the term for getting enough investors to buy into a new share issue), is expected to happen in a day or two.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.