India's Aster DM Healthcare hits record high on merger with Quality Care

Aster DM Quality Care

02/12/2024 04:38

** Shares of Aster DM Healthcare  ATRD.NS  rise as much as 4.9%
to record high of 524.7 rupees, set to extend gains to seventh
straight session
** Healthcare services provider announces merger with Quality
Care India, with Aster holding 57.3% stake in merged entity
    ** Merged entity expects addition of ~3,500 new beds between
FY24-27
    ** Analysts at Centrum are positive on the deal as the
merged entity will have dominant presence in central and south
India, allowing it to "potentially gain patient volumes and ward
off competition"
    ** Avg rating of eight analysts covering the stock is "buy"
and median PT is 555 rupees, ~8% higher than current price -
LSEG data
    ** ATRD last up 3%, extending YTD gains to ~63%

(Reporting by Anuran Sadhu in Bengaluru)
((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))