India's Aster DM surges to record on planned stake sale in Gulf business

Aster DM Quality Care

29/11/2023 04:28

** Shares of Aster DM Healthcare  ATRD.NS  rise as much as
14.8% to a record high of 381.7 rupees
    ** Stock marks sharpest intraday pct gain since July 4
    ** The hospital chain reported on Tuesday that it agreed to
sell a majority stake in its Gulf business to an investor group
based in the region for $1 billion 
    ** Stake sale part of plan to separate the unit from its
Indian entity
    ** ATRD trading above its 50-day, 100-day and 200-day simple
moving averages 
    ** Stock most active since Oct. 12; more than 4.4 mln shares
changing hands, 12.6x its 30-day avg
    ** Five analysts covering the stock on average have a
"strong buy" rating; median PT is 335 rupees - LSEG data
    ** Stock up nearly 55% YTD


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))