Max India rose 3.21% to Rs 99.75 at 9:45 IST on BSE after the company said it is exploring options of acquiring joint venture partner's shares in Max Healthcare Institute.
The announcement was made after market hours yesterday, 20 February 2018.Meanwhile, the S&P BSE Sensex was up 4.71 points, or 0.01% to 33,708.30.
On the BSE, 3.15 lakh shares were traded in the counter so far compared with average daily volumes of 30,315 shares in the past one quarter. The stock had hit a high of Rs 101 and a low of Rs 98.10 so far during the day. The stock hit a 52-week high of Rs 162.90 on 2 May 2017. The stock hit a record low of Rs 95.60 on 20 February 2018.
The stock had underperformed the market over the past 30 days till 20 February 2018, falling 18.02% compared with 5.85% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 29.19% as against Sensex's 0.42% rise. The scrip had also underperformed the market in past one year, falling 35.63% as against Sensex's 17.18% rise.
The mid-cap company has equity capital of Rs 53.68 crore. Face value per share is Rs 2.
Max India announced that its equal joint-venture partner in the healthcare business, Life Healthcare Group Holdings, South Africa (Life Healthcare), has initiated preliminary discussions with the company to explore the possibility of acquisition of Life Healthcare's shares in Max Healthcare Institute by the company.
Max India reported net profit of Rs 1.02 crore in Q3 December 2017 as against net loss of Rs 0.55 crore in Q3 December 2016. Total income rose 32.89% to Rs 14.87 crore in Q3 December 2017 over Q3 December 2016.
Max India, a multi-business corporate, is part of the Max Group and is the holding company for Max Healthcare, Max Bupa Health Insurance and Antara Senior Living.
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