Healthcare Financial News

The S&P BSE Sensex fell over 450 points, while the Nifty50 managed to hold on to 22,100 levels.

₹3,773 and ₹6,459 in rural and urban areas respectively, as per the government’s recently released data on household consumption expenditure. Let us delve deeper into all the categories that lead to this gap in rural-urban consumption. First, consider ‘rent.’ Given that most families live in their own homes in rural areas, the average monthly rent spending is only ₹30.

Q4 Results Today: A total of ten companies are scheduled to release their financial results for the fourth quarter of FY24 (Q4 FY24) today, April 17 (Wednesday). ICICI Lombard General Insurance Company, Tata Communications, Just Dial, Angel One, DRA Consultants, Gretex Corporate Services, Hardcastle & Waud Mfg. Co., Hathway Cable & Datacom, Infomedia Press, and KCL Infra Projects are the ten companies that will release their Q4 results today, April 17.

Calcutta High Court has passed an interim order in the case between NYSE-listed UpHealth Holdings and Kolkata-based Glocal Healthcare Systems. The high court has asked Glocal's promoters and shareholders, including former Sebi chairman M Damodaran to file affidavits of their assets and disclose their liabilities. The court also rejected Damodaran's plea to be absolved from any liability in the case. UpHealth, a digital health company, acquired a 95% stake in Glocal in 2020. The dispute started after UpHealth claimed their right to two directors on the board of Glocal as per the share purchase agreement (SPA) in September 2022, which was defeated in an extraordinary general meeting (EGM).

ALSO READ: US stocks mixed as Treasury yields advance Adjusted earnings, excluding the cost from the sale of the Brazilian business and some expenses tied to the cyberattack, totaled $6.91 per share. Total costs tied to the cyberattack and recovery amounted to 74 cents per share in the first quarter.

MUMBAI : After investing about $2 billion in India last year, Swedish private equity firm EQT is lining up deals that could lead to another $5 billion worth of investments in the country this year. EQT got its first taste of India in October 2022 after it acquired Baring Private Equity Asia—which once owned Hexaware Technologies Ltd—and has since signalled a strong investment appetite for the country.

EQT. That in turn is translating to unprecedented deal volumes. “It's one of the most active deal pipelines we've ever had here,” said Jean Salata, Chairperson EQT Asia. “We're looking at deals worth $5 billion that could close before the end of this calendar year. It's really, it's really ramped up. A single deal we are looking at is $2. 5 billion, and there's several others that are sort of in the $1 billion range.” India has been the single largest geography for the firm’s Asian investment programme by far, representing about 40% of the total portfolio, Salata said. It’s also the strongest performing geography.

UnitedHealth Group trounced first-quarter expectations even as costs from a cyberattack to its Change Healthcare business ate into its performance

Rekha Jhunjhunwala, who inherited the portfolio of Rakesh Jhunjhunwala, has made some significant changes to the investments during the quarter ended March. Jhunjhunwala, who owned about 1.8% stake in recently listed Tata Communications towards the end of December quarter, pared the stake in the company by 0.3%, bringing the overall holding to 1.6% at the end of March quarter.

Medulance, an emergency healthcare services startup, has raised $3 million in Series A funding, led by Alkemi Growth Capital. The funding round also saw participation from investors such as Dexter Capital, Boat founder Aman Gupta, and Emcure Pharmaceuticals’ executive director Namita Thapar.

Fund managers bought shares of pharma and healthcare companies in March as they believe the domestic pharma market is expected to grow by 12-14% led by new product launches, exports, and strong growth in the chronic segment. They were buyers in Aurobindo Pharma, Ajanta Pharma, Wockhardt, Glenmark Pharma and diagnostic companies like Dr Lal PathLabs and Vijaya Diagnostics.

ChrysCapital has invested about Rs 600 crore ($70 million) in Ahmedabad-based La Renon Healthcare, valuing it at $800 million. ChrysCap has acquired about 8% stake from the promoter family in a secondary transaction. Incorporated in 2007 by Pankaj Singh, La Renon is engaged in the manufacturing and marketing of branded generic formulations. ChrysCapital is close to acquiring a minority stake in La Renon Healthcare via secondary sale of shares, at a valuation of Rs 6,500 crore ($800 million), ET first reported on February 12. At present, promoter Pankaj Singh & family own about 80% stake in the formulations manufacturer while Peak XV Partners (formerly Sequoia Capital) owns 14% and domestic VC fund A91 Partners owns 6% stake in La Renon. In FY24, La Renon posted a revenue of Rs 1,400 crore and an Ebitda of Rs 300 crore, said sources. O3 Capital advised La Renon on the transaction.

By Sudhir Kaushik

MUMBAI : Gazing down at Bengaluru from the top of the iconic Cafe Coffee Day building, known as the Square, one can sense the emerging power in India’s real estate market. Owned by Strata, the country's largest fractional real estate platform, the building symbolizes a major shift in property investments. Propelled by the concept of fractional ownership, Strata has rapidly grown to a formidable ₹1,800 crore in assets under management in just four years.

Max Healthcare Institute Ltd. traded 3.3 per cent down at Rs 840.75 on Monday at around 01:55PM (IST), while the benchmark BSE Sensex declined 608.04 points to 73636.86. As many as 34,094 shares changed hands on the counter with a total value of Rs 2.87 crore.

Lok Sabha seat, a blend of urban and rural areas, includes Yelahanka, Kempegowda International Airport, and the Foxconn campus, alongside industrial areas like Bashettihalli, Nandagudi, and Dabaspet. Persistent Water Woes Voters in Chikkaballapur and Bengaluru Rural regions are disillusioned with their representatives, past and present, for failing to address the longstanding water issues. The lack of a permanent solution has been a major concern for the residents.

Lancet report that asserted that the Indian government spends just 1.2 per cent of GDP on healthcare and noted that it was among the lowest among G20 countries, sources in the government said that spending is at an all-time high and out-of-pocket expenditure as a per cent of the total health expenditure has decreased. «As per the National Health Policy, 2017, public investment in health is envisioned to reach 2.5% of GDP by 2025. Ministry of Health and Family Welfare (MoHFW) has taken up with States to prioritize allocation to the health sector and enhance their health budgets by at least 10 per cent every year to reach the goal as envisaged,» one of the sources said. The budget estimates of the Department of Health and Family Welfare have reached from Rs 86,175 crore in 2023-24 from Rs 36,948 crore in 2014-15, thereby showing an overall increase of 133.23 per cent during the period, they said.

Metropolis Healthcare with a target price of Rs 2135. The current market price of Metropolis Healthcare is Rs 1779.5. Metropolis Healthcare Ltd., incorporated in the year 2006, is a Mid Cap company (having a market cap of Rs 9113.96 Crore) operating in Hospitals & Allied Services sector.

While investors try to meet their long-term financial goals, they should engage a financial consultant, believes Nishant Srivastava, CEO, Mass Affluent Business, Torus Wealth.

Nippon India Small Cap Fund BASIC FACTS DATE OF LAUNCH 16 SEPT 2010

Indian stock market today: A total of 9 stocks have been banned for trade on Monday, April 15, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they crossed 95% of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.