Shares of Apollo Hospitals Enterprises rallied 6.5 percent intraday amid large volumes on Thursday after news reports indicated that the company is in advanced stages of negotiations to take over Life Line multi speciality hospital in Chennai.
Sources say the transaction could get consummated over the next couple of weeks.
Reports indicated that the contours of the transaction involve Apollo entering into a long term lease agreement to manage Life Line.
At 13:59 hours IST, the stock gained 4.6 percent at Rs 830.90 on Bombay Stock Exchange.
Trading volumes jumped 3.6 percent to 20,003 equity shares as against five-day average of 5,587 shares.
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