Small-Cap stock engaged in the business of running and operating hospitals with providing services to over 52 specialties jumped upto 6 percent in the day’s trade after Quant Mutual Fund purchased 5.5 Lakh equity shares of the company.
With a market capitalization of Rs. 2,376 Crores the shares of Indraprastha Medical Corporation Limited were trading at Rs. 259.15, up 5.65 percent from its previous day’s close price of Rs. 245.30.
As per the latest data available on NSE Block Deals Quant Mutual Fund via Quant Small Cap Fund has purchased 5.5 lakh equity shares (equivalent to 0.6 percent of paid-up equity) of Indraprastha Medical Corporation Limited at an average price of Rs 249.59 per share via open market transactions, amounting to Rs 13.72 Crores.
Indraprastha Medical Corporation Limited is a super specialty tertiary care hospital engaged in the business of running and operating hospitals, which include Indraprastha Apollo Hospitals and some Apollo Hospitals.
Indraprastha Medical Corp was set up as a joint venture between Apollo Hospitals and the Delhi Government. Apollo Hospitals has a 22.02 percent stake in the company and the state government of Delhi has a 26 percent stake.
It offers services to over 52 specialties including anesthesia, cardiology, cardiac surgery, cancer, pediatrics, critical care, emergency care, obstetrics & gynecology, IVF, liver and kidney transplant fetal medicine, gastroenterology and hepatology, rheumatology, spine surgery, urology, and many more.
Its revenue from operations grew by 10.46 percent from Rs. 277 Crores in Q3FY23 to Rs. 306 Crores in Q3FY24, accompanied by profits of Rs. 21 Crores to Rs. 29 Crores.
It has reported a return on equity (ROE) OF 24.6 percent and a return on capital employed (ROCE) of 34.3 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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