HealthCare Global Enterprises rose 1.3% to Rs 253.10 at 13:11 IST on BSE after the company's board of directors has approved the scheme of amalgamation for merger of subsidiary companies.
The announcement was made after market hours yesterday, 17 November 2016.Meanwhile, the S&P BSE Sensex was up 83.41 points or 0.32% at 26,311.03
On BSE, so far 3,920 shares were traded in the counter as against average daily volume of 57,153 shares in the past one quarter. The stock hit a high of Rs 254.05 and a low of Rs 250 so far during the day. The stock had hit a record high of Rs 256 on 1 November 2016. The stock had hit a record low of Rs 167 on 24 June 2016. The stock had outperformed the market over the past 30 days till 17 November 2016, rising 8% compared with 6.28% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 20.26% as against Sensex's 6.59% fall.
The small-cap company has equity capital of Rs 85.08 crore. Face value per share is Rs 10.
HealthCare Global Enterprises said that it is proposed to merge DKR Healthcare , a subsidiary of BACC Health Care, with BACC Health Care, being subsidiaries of the company. BACC Health Care is a direct subsidiary of the company and DKR Healthcare is a wholly owned subsidiary' of BACC Health Care. The board of directors of the respective companies has approved the scheme of amalgamation for the merger of these companies, HealthCare Global Enterprises said.
HealthCare Global Enterprises reported consolidated net profit of Rs 4.94 crore in Q2 September 2016 as compared with net loss of Rs 1.67 crore in Q2 September 2015. Net sales rose 21.96% to Rs 172.93 crore in Q2 September 2016 over Q2 September 2015.
HealthCare Global Enterprises is a provider of speciality healthcare in India, focused on cancer and fertility. Under the HCG brand, the company operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed by the AERB. HGEL also provides fertility treatment under the Milann brand.
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