bullish
Aster DM Healthcare Ltd (ASTERDM IN): Recent Correction Can Be a Good Entry Point
Tina has highlighted this Insight as a Top Pick
424 Views02 Apr 2024 20:12
SUMMARY
- Aster DM Healthcare Ltd (ASTERDM IN) shares took a beating as Olympus Capital offloaded ~49M shares at a price range of INR405.00–406.72 (~7% discount to the last close price).
- GCC business separation is expected to complete in Q4FY24. Aster DM plans to consider distributing 70–80% of the upfront consideration of $903M as dividend to its shareholders.
- Stake sale by Olympus Capital is not a warning sign for the company. Despite CGHS rate overhang, we think recent pullback in Aster DM share provides an attractive entry point.
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