Shares of Narayana Hrudayalaya rise on incorporating a wholly-owned subsidiary!

Narayana Hrudayalaya has incorporated a wholly-owned subsidiary named ‘Samyat Healthcare’. The subsidiary will be engaged in the distribution of medicines, implants, medical equipment, consumables, and other goods and assets used by hospitals. It will also manufacture medical supplies and provide services in the areas of healthcare supply chain, pharmacy, and other healthcare-related areas. The company has subscribed to 50,000 equity shares of Rs 10 each, aggregating to Rs 5,00,000.

The subsidiary was incorporated on July 4, 2023. The company said that the move is in line with its strategy to expand its healthcare services and reach out to a wider patient base. The incorporation of the subsidiary is a significant move for Narayana Hrudayalaya. It will help the company to expand its reach and offer a wider range of healthcare services to patients.

Narayana Hrudayalaya is one of the leading private healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities. The company is known for its specialization in cardiac care. The company’s ‘Narayana Health’ brand is strongly associated with its mission to deliver high-quality and affordable healthcare services to the broader population by leveraging its economies of scale, skilled doctors, and efficient business model.

Narayana Hrudayalaya shares are currently trading at Rs 997.15, up by 6.85 points or 0.69% from its previous closing of Rs 990.30 on the BSE. The scrip opened at Rs 998.90 and touched a high and low of Rs 999.15 and Rs 990 respectively. So far 855 shares were traded on the counter.

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high of Rs 1077.15 and a 52-week low of Rs 589.90. Last one week high and low of the scrip stood at Rs 1007.50 and Rs 980.00 respectively. The current market cap of the company is Rs 20,237.85 crore. The promoters holding in the company stood at 63.85%, while Institutions and Non-Institutions held 24.50% and 11.64%, respectively.

Disclaimer: This blog is exclusively for educational purposes. The securities quoted are exemplary and are not recommendatory.