Aster DM Healthcare Shares Fall After Large Trade On BSE

Shares of Aster DM Healthcare Ltd. slumped over 4% on Friday after a large trade on BSE.

At least 4.5 crore shares amounting to 9% stake of the company changed hands. The deal happened at Rs 345.2 per share, a discount of 3.12% from its closing price on Thursday, according to Cogencis.

Shareholder Olympus Capital Asia Investments has offered to sell 2.52 crore shares in Aster DM Healthcare, with an option to raise it to 5.05 million shares, Bloomberg had reported on Thursday, citing terms of the deal.

As of March 2024, Olympus Capital Asia Investments Ltd. held 10.10% stake in the company, according to BSE.

Shares of the company fell as much as 4.28%, the lowest level since June 5. They erased loss to trade 1.28% higher at Rs 360.80 apiece as of 11:35 a.m., compared to a 0.13% decline in the NSE Nifty 50.

The stock has fallen 11.7% year-to-date and 29.16% in the last 12 months. Total traded volume so far in the day stood at 10.16 times its 30-day average. The relative strength index was at 49.93.

All six analysts tracking the company has a 'buy' rating, according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 13.9%.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.