The shares of the healthcare company gained up to 19 percent despite HDFC Bank’s sold 27.81 lakh equity shares which is equivalent to 3.03 percent of the company.
With a market capitalization of Rs 2,209.32 crore, the shares of Indraprastha Medical Corporation Ltd were trading at Rs 240.05 per share, increasing around 15 percent as compared to the previous closing of Rs 208.30 apiece.
According to the exchange filing, Hdfc bank holds 50.31 lakh equity shares of Indraprastha Medical Corporation as of February 28, 2024, out of which the bank sold 27.81 lakh shares, representing 3.03 percent of the equity capital of the company between February 29 and April 4, 2024, through the secondary market.
Furthermore, after the stake sale, the bank holds 2.45 percent of Indraprastha. The average selling price was Rs 199.38 per share, and the total stake sale worth was Rs 55.46 crore.
Looking into Indraprastha Medical Corporation’s performance, revenue increased by 10 percent from Rs 277 crore in Q3 FY23 to Rs 306 crore in Q3 FY24. During the same period, net profit increased by 38 percent, from Rs 21 crore to Rs 29 crore.
Having a look at the shareholding data for the December 2023 quarter, the President of India holds a 26 percent stake in IMCL
As a result, the company’s profitability ratios have increased, with the return on equity (RoE) rising from 18.01 percent in FY21-22 to 22.70 percent in FY22-23, and the return on capital employed (RoCE) rising from 22.40 percent to 28.54 percent over the same time period.
The company’s recent shareholding pattern, The Promoters of the Company own 51.00 percent while Retail shareholders own a 41.69 percent stake in the company and Domestic Institutional Investors own a 6.36 percent stake.
Indraprastha Apollo Hospitals is a multi-specialty tertiary acute care hospital with roughly 710 beds, spread across 15 acres, and a built-up area of over 600,000 square feet.
Indraprastha Medical Corporation Limited manages and operates hospitals, including Indraprastha Apollo Hospitals and Apollo Hospitals. The company provides a variety of services, including in-patient, out-patient, and clinical services.
Written by:- Abhishek Singh
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