Synopsis:
Medi Assist Healthcare Services Limited’s stock gained 6% after block deal worth Rs.560 crore. Nearly 15.67 percent, or 1.10 crore, worth of Rs. 560 crore equity shares were exchanged through the block deal window at Rs. 523 each.
The shares of small-cap companies engaged in the health and insurance tech are on the radar after shares worth Rs. 568 Crores exchanged hands, and promoters are the likely sellers.
With a market capitalization of Rs. 4091 crores, the shares of Medi Assist Healthcare Services Limited were trading at Rs. 562, up by 6 percent from the previous day’s closing price of Rs.527.
What’s the news
The share of Medi Assist Healthcare Services Limited was in focus in the day’s trade after 1.1 Crores shares or 15.67 percent stake of the company likely exchanged hands at Rs. 523 worth Rs. 560 Crores, through a block deal in the markets early trade.
As per sources, the firm’s promoter entity, Bessemer India Capital Holdings II Ltd, which holds a 15.67 percent stake, was likely to sell a 4 percent stake in the company via a block deal.
Also Read: NBFC stock in focus after Orange Clove Investments offloads 10.6% stake in the company
About the Company
Medi Assist Healthcare Services Limited operates in the health insurance services sector.They are engaged in administering health benefits for retail members, Individual policyholders, corporate employees, and government health programs.
Financial Outlook
In the financial front, on a YoY basis company’s revenue from operations climbed up to 14 percent from Rs.168 crores in Q1FY24 to Rs.191 crores in Q1FY25, accompanied by profits of Rs.19 crores to Rs. 23 crores. It has a PE is 39.4, which is on par with the industry PE ratio of 39.22, and the PEG ratio is 1. EPS increased from 2.68 in Q1FY24 to 3.18 in Q1FY25.
Written By Jhanavi Sivakumar
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