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Kotak to Acquire Additional 1.5% Stake in Vijaya Diagnostic Centre

16 July 20243 mins read by Angel One
Kotak Mahindra Mutual Fund purchased an extra 1.8% stake in Vijaya Diagnostic Centre for Rs. 141 crore at an average share price of Rs. 783.
Kotak to Acquire Additional 1.5% Stake in Vijaya Diagnostic Centre
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Vijaya Diagnostic Centre is a renowned diagnostic center network that provides a single-source solution for pathology and radiology testing services through its extensive operational network. The company has a range of services that include nuclear medicine, radiology, laboratory services, health checkups, and medical services. Besides these diagnostic services, the company also offers clinical pathology, microbiology, hematology, serology, histopathology, cytogenetics, biochemistry, molecular diagnostics, computerized tomography (CT) scan, magnetic resonance imaging (MRI) scan, ultrasound, x-ray, cardiology, gastroenterology, nuclear medicine, pet CT, and MRI-3T.

Kotak Mahindra Mutual Fund purchased 18 lakh shares at an average price of Rs. 783, which is only possible through a bulk deal executed on the NSE.

NSE Block Deal:

Al Mehwar Commercial Investments LLC was the seller yesterday. The UAE-based investment advisor sold 22.5 lakh shares, representing 2.2% of the total equity. Because of this block deal, Kotak Mahindra Mutual Fund purchased 18 lakh shares of Vijaya Diagnostic. By the end of March 2024, Al Mehwar Commercial Investments LLC held close to a 3% stake in the company.

Rs. 51.03 crore deal in March 2024:

In March 2024, Kotak Mahindra Mutual Fund bought 8.1 lakh shares already for the Vijaya Diagnostic Centre; at that time, the average per share price was Rs. 630, and now, with the new deal, the average share price is Rs. 783. Since the last purchase made by Kotak Mahindra Mutual Fund, we have seen a 30% rally in the stock.

40.4% of profit increased for Vijaya Diagnostic Centre:

Vijaya Diagnostic’s net profit in FY24 reached Rs. 119 crore, a 40.4% increase. During the year, net revenue grew by 19.3% to Rs. 548 crore. At the end of Tuesday, the company had a market capitalization of Rs. 8,381 crore.

Conclusion: This strategic investment by Kotak Mahindra Mutual Fund is a testament to the growth potential and powerful performance of Vijaya Diagnostic Centre.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions

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