Apollo Hospitals shares in focus as subsidiary raises stake in Keimed for Rs 625 crore

Apollo Hospitals shares will be in focus on Monday after its subsidiary, Apollo Healthco (AHL), announced plans to acquire an additional 11.2% stake in Keimed Pvt Ltd for Rs 625.43 crore from promoter Shobana Kamineni.

In a regulatory filing, Apollo Hospitals stated that its board had approved AHL’s acquisition of 11.2% of Keimed’s issued and paid-up share capital in two tranches. The purchase will be made from Shobana Kamineni, a related party, for Rs 625.43 crore.

Additionally, AHL will invest Rs 99.99 crore in Keimed as a primary investment, as per the terms of a framework agreement executed among AHL, Keimed, and Keimed’s shareholders.

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Apollo Hospitals Q3 earnings

Apollo Hospitals reported a 52% year-on-year (YoY) increase in its consolidated net profit, reaching Rs 372 crore for the December 2024 quarter, driven by higher sales. The company had posted a net profit of Rs 245 crore in the same period of the previous fiscal year.

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Apollo Hospitals shares target price

As per Trendlyne data, the average target price of the stock is Rs 7,814, which shows an upside of 18% from the current market prices. The consensus recommendation from 29 analysts for the stock is a ‘Buy’.

Technically, the stock’s relative strength index (RSI) is at 63.3. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -101.1, which is below its center line, this is a bearish indicator.

Apollo Hospitals shares are trading above their 5-day, 10-day, 20-day, 30-day, and 50-day simple moving averages (SMAs) but remain below the 100-day, 150-day, and 200-day SMAs.

Apollo Hospitals shares performance

On Friday, Apollo Hospitals shares closed at Rs 6,621.5, rising 2.3% on the BSE, while the benchmark Sensex gained 0.73%. The stock has declined 10% year-to-date but gained 55% over the last two years. The company’s market capitalization stands at Rs 95,207 crore.

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