Aster DM Shares Slip To Two-Month Low After Large Trades
Private equity firm Olympus was looking to sell about 10% of its stake in the company, as per reports.
Shares of Aster DM Healthcare Ltd. fell nearly 7% to a two-month low on Wednesday after two large trades.
At least 4.98 crore shares, or 9.8% equity, changed hands in two trades at an average price of Rs 410 apiece, according to Bloomberg. The buyers and sellers have not been confirmed immediately.
According to media reports, private equity firm Olympus was looking to sell about 10% of its stake in the healthcare company.
The foreign direct investment, Olympus, held an 18.96% stake in Aster DM Healthcare as of December 2023, according to BSE data.
Shares of Aster DM Healthcare fell as much as 6.88% during the day to Rs 407.1 apiece on the NSE, the lowest since Jan. 15. It was trading 5.78% higher at Rs 411.95 per share, compared to a 0.49% advance in the benchmark Nifty 50 as of 9:42 a.m.
The share price has risen 73.8% in the last 12 months. The relative strength index was at 36.
All six out analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 18.9%.
