Bliss GVS Pharma Rallies As Arm Wins Contract From Kenyan Firm

Shares of Bliss GVS Pharma rallied as much as 5.8 per cent to hit intraday high of Rs 125.90 after the company informed stock exchanged that its Kenyan arm has won a three-year contract worth $111.40 million (around Rs 760 crore) from Aon Kenya Insurance Brokers.

"Bliss GVS Healthcare, the Kenyan step down subsidiary of the company has won a three-year contract worth $111.40 million from Aon Kenya Insurance Brokers Ltd for provision of medical healthcare services in Kenya," Bliss GVS Pharma said in a BSE filing.

This contract covers outpatient services for over 3,04,060 members, it added.

"Service payments will be received by the company from Aon, in advance, on a quarterly basis. Part payment for the first quarter has been received from the company," Bliss GVS Pharma said.

Bliss GVS Healthcare runs chain of outpatient medical services clinics in Kenya.

As of 2:59 p.m., shares of Bliss GVS Pharma traded 4.67 per cent higher at Rs 124.50 outperforming the Nifty which was up 1 per cent.