Aster DM Healthcare share price rose over five percent on March 28 after the company signed a memorandum of understanding (MoU) with Tamil Nadu to set up healthcare facilities.
The MoU proposes an investment of Rs 500 crore in hospitals, pharmacies and laboratories in the state.
Catch all the market action on our live blog
This is expected to help provide quality healthcare at an affordable cost and generate employment for more than 3,500 people.
Currently, Aster has 14 hospitals, nine clinics and 66 labs and patient experience centres in India, with an investment of about Rs 3,000 crore.
With five hospitals in Kerala including the flagship Aster Medcity, the investment in Tamil Nadu will further consolidate the firm's presence in the South. Apart from Kerala, Aster has healthcare facilities across Karnataka, Maharashtra, Andhra Pradesh and Telangana.
At 10:11 hours, Aster was quoting at Rs 188.20, up Rs 7.80 or 4.32 percent on the BSE.
