Aster DM Healthcare share price surges nearly 13% to hit its fresh all-time high

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₹449.75 in early trade on Tuesday, January 16 a day after the company's announcement regarding dividend payment. Aster DM Healthcare share price opened at ₹448.10 against the previous close of ₹398.85 and soon jumped 12.8 per cent to the level of ₹449.75 on Tuesday.

Around 9:50 am, the stock traded 9.18 per cent higher at ₹435.45 on BSE. Shares of the company witnessed strong buying interest a day after the company announced that its board of directors approved the allocation of 70 per cent to 80 per cent of the upfront consideration of the $903 million to be received from the segregation of the company’s GCC business as dividend to its shareholders.

Also Read: Aster to disburse major portion of GCC sale money as dividend “The consideration receivable from the transaction is one billion dollars of which $903 million, subject to customary adjustments are payable at closing and up to $98.8 million may be received subsequently subject to certain contingent events," the company added in a statement. “Following deliberations regarding future expansion plans, capex requirements, and cash reserves, the board is desirous to consider the distribution of 70-80 per cent of the upfront consideration of $903 million, as a dividend to its shareholders, in the range of ₹110 to ₹120 per share," said the company.

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) Aster DM Healthcare share price has demonstrated robust performance over the past year, soaring by an impressive 95 per cent, as per the current market price.