GQG Partners Buys Max Healthcare Shares For Rs 415 Cr Via Open Market

Listen to This Article

GQG Partners on Monday acquired shares of hospital chain Max Healthcare Institute for Rs 415 crore through an open market transaction.

According to the bulk deal data available with the National Stock Exchange (NSE), GQG Partners Emerging Markets Equity Fund bought 75,50,000 lakh shares of the firm.

The shares were purchased at an average price of Rs 549.70 apiece, taking the transaction value to Rs 415 crore.

Details about the sellers could not be immediately ascertained.

Shares of Max Healthcare Institute gained nearly 1 per cent to close at Rs 550.45 apiece on the NSE. During the day, the scrip also touched its 52-week high of Rs 558.85 per share on the bourse.

In a separate bulk deal, Morgan Stanley Investment Funds offloaded 9.60 lakh shares of Gland Pharma for Rs 89 crore.

Morgan Stanley Investment Funds Emerging Markets Equity Fund sold 9,60,271 shares at an average price of Rs 930.69 apiece. This took the deal value to Rs 89.37 crore.

On Monday, shares of Gland Pharma tumbled 16.12 per cent to close at Rs 893.85 apiece on the NSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

RECENT NEWS

Leadership Shakeup At Citigroup Fuels Succession Rumors

Jane Fraser's recent appointment of three new executives at Citigroup has stirred speculation on Wall Street about the b... Read more

Capital One And Discover Merger: Boosting Competition And Innovation In Financial Services

The potential merger between Capital One and Discover could create a formidable competitor in the financial services ind... Read more

Citigroups Fat-Finger Error: Lessons In Financial Oversight

The financial world was taken aback when Citigroup, one of the largest global banks, was fined £62 million by UK regula... Read more

Titi Coles Legacy In Finance: Pioneering Diversity And Leadership

Titi Cole, one of the most senior Black women in the world of finance, recently exited her high-profile role at Citi. He... Read more

Rising Rates, Rising Challenges: Bankers Adapt To Serve Troubled Companies In A Changing Economic Landscape

As interest rates climb, troubled companies are facing heightened financial pressures, prompting them to seek assistance... Read more

The Elusive Nature Of Fraud Detection: Exploring The Auditor's Dilemma

In the intricate world of financial reporting, auditors serve as guardians of integrity, tasked with uncovering discrepa... Read more