Max Healthcare To Acquire Stake In Eqova Healthcare

Max Healthcare Institute Ltd. announced acquisition of equity stake in Eqova Healthcare.

  • Shares equivalent to 26% of stake in Eqova shall be acquired in the first tranche. The cost of acquisition of tranche 1 shares if Rs 47.18 crore.
  • The acquisition of remaining equity stake will be completed in a phased manner.
  • Eqova has long-term exclusive rights to aid development of and provide medical services to a 400-bed hospital to be built on Patparganj, Delhi.

Sensex Sheds 650 Points; Nifty Down 1%

India’s stock benchmarks opened lower, dragged by losses in information technology, banking and auto stocks, amid a decline in global equities after a record rise in U.S. inflation.

The S&P BSE Sensex shed nearly 650 points (over 1%) yo 58,284.12. The NSE Nifty 50 also fell 1% to 17,421.45.

The broader indices outperformed their larger peers with both the S&P BSE MidCap and S&P BSE SmallCap losing 0.7%. Barring S&P BSE Utilities and Power, all the other 17 sectoral indices compiled by BSE Ltd. declined with S&P BSE Information Technology falling 1.7%.

The market breadth was skewed in the favour of bears. About 759 stocks advanced, 1,704 declined and 93 remained unchanged.

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