Metropolis Healthcare ends at Rs 959.85, a 9% premium over issue price
Metropolis Healthcare shares maintained positive momentum throughout the trading session on April 15, the day one on exchanges.
The stock closed at Rs 959.85 on the National Stock Exchange, up Rs 79.85, or 9.07 percent over issue price of Rs 880. It touched an intraday high of Rs 982.70 and low of Rs 935.
On the BSE, it gained 9.04 percent to end at Rs 959.55 after hitting a day’s high of Rs 981.30 and low of Rs 934.80.
The company’s market valuation was at Rs 4,814.90 crore on the BSE.
On the volume front, 72.79 lakh shares were traded on the NSE and over 6.12 lakh shares on the NSE.
“Metropolis has a strong and established brand with a focus on quality and customer service. Its brand and reputation, economies of scale and wide geographic coverage are well positioned to leverage from the underlying opportunities in the Indian diagnostics space,” said Astha Jain, Senior Research Analyst at Hem Securities.
She advised investors with long term horizon to hold the stock as the company, being one of the leading diagnostics companies in India, has a wide operational network, young patient touch point network and an asset-light growth of service network.
The Rs 1,204-crore public issue of Metropolis Healthcare was opened for subscription during April 3-5 and was subscribed 5.84 times.