India's Aster hits record high after dividend proposal

Fortis Healthcare

16/01/2024 03:54

** Shares of Aster DM Healthcare Ltd  ATRD.NS  jump 12.4% to
record 449.7 rupees
    ** Indian hospital chain on Monday said it would consider
dividend of 110 rupees-120 rupees per shr to shareholders from
Gulf business demerger payout
    ** Dividend proposal comes days after proxy advisory firm
Institutional Investor Advisory Services asked ATRD shareholders
to vote against demerger due to lack of clarity on how co would
use sale proceeds
    ** Over 1.1 mln shares traded, 2.2x 30-day avg volume
    ** All five analysts covering ATRD rate it "buy" or higher;
median PT is 415 rupees - LSEG data
    ** Stock rose 77% in 2023, vastly outperforming larger
hospital chains Apollo's  APLH.NS  27% rise and Fortis'
 FOHE.NS  ~47% jump


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))