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Max Healthcare share price trades higher after SBI Mutual Fund raises stake

SBI Mutual Fund bought 4.28 crore shares (4.44% equity) in the healthcare company at Rs 350 a share on September 30 , raising its stake in the firm to 6.44 percent

October 01, 2021 / 10:47 AM IST
Max Healthcare Institute

Max Healthcare Institute

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Max Healthcare Institute share price edged higher in the morning session on October 1, a day after SBI Mutual Fund increased its stake in the Delhi-based hospital chain to 6.44 percent.

On September 29, HDFC Mutual Fund and SBI Mutual Fund bought 57 lakh shares (0.59 percent equity) and 4.28 crore shares (4.44 percent equity), respectively, in the healthcare company at Rs 350 a share.

Similarly, Veritas Funds Plc, on behalf of Veritas Asian Fund, also picked up 52 lakh equity shares (0.54 percent equity) in Max Healthcare Institute at Rs 350 a share, the data shows.

On the other hand, Kayak Investments Holding, one of the promoter entities of Max Healthcare Institute, on September 29 sold 8.44 crore shares (8.74 percent equity) for Rs 2,956 crore through open market transactions.

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Kayak Investments, an affiliate of private equity major KKR, sold over 6.02 crore shares at an average price of Rs 350, while another 2.42 crore shares were divested at Rs 350.13.

The stock was trading at Rs 365.00, up Rs 4.80, or 1.33 percent, at 1037 hours. It has touched an intraday high of Rs 368.50 and an intraday low of Rs 357.15.
Moneycontrol News
first published: Oct 1, 2021 10:47 am

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