Pathology chain Vijaya Diagnostic Centre Ltd has agreed to take over Pune-based PH Diagnostic Centre Pvt. Ltd in its first ever acquisition.
Mumbai-listed Vijaya Diagnostic will ..
Since PH Diagnostic Center is the largest business-to-consumer (B2C) diagnostic chain in Pune, it will help Vijaya Diagnostic expand rapidly in that region with a faster growth rate.
PH is Pune s largest integrated diagnostic centre, with 23 years of operations. It has three hub centres equipped with advanced radiology like MRI/CT, and another three spoke centres equipped to carry out basic radiology services like ECG, X-ray and ultrasound, and few collection and franchise centres, the filing said.
The company finds its niche in its radiology play, which contributes 36% to the overall revenue, and high B2C share and investments in latest technologies. After establishing a strong foothold in Telangana and Andhra regions, the company is set to expand its presence in other cities like Kolkata.
Sectorally, buying on Friday was seen in power, utilities, public sector, and metal stocks while selling was seen in auto, consumer durables, IT, and oil & gas.
Healthcare Stocks Continue To Rally menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Healthcare stocks continued to rally with Medanta, Fortis, Marksans Pharma, and Vijaya Diagnostic all gaining more than 5 per cent, showcasing that investors are bullish on the sector, says Vaibhav Vidwani, Research Analyst, Bonanza .
Shares of Tesla were a big boost, up 1.1% after a source told Reuters the electric automaker plans to build a 25,000-euro ($26,838) car at its factory near Berlin. Seven of the 11 major S&P 500 sectors climbed, with information technology and consumer discretionary leading gains.
"After a gap-up opening, Nifty faced resistance around 19,250-19,300 levels, and we can see maximum put writing at 19,200 levels, which may act as strong support for Nifty. We can see maximum open interest in the 19,300 call option, so one should only be bullish on Nifty if it closes above its crucial 100-day moving average, which is placed at 19,300," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.