Krishna Institute of Medical Sciences Ltd Share Price – NSE  /  BSE

Healthcare, Small Cap

Krishna Institute of Medical Sci. will hold a meeting of the Board of Directors of the Company on 7 August 2024.

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The key domestic indices pared some losses and traded with moderate losses in the early- afternoon trade. The Nifty traded above the 24,250 mark after hitting day's low of 24,141.80 in morning trade. Media shares declined after advancing in the previous trading session.

At 12:25 ST, the barometer index, the S&P BSE Sensex, was down 604.68 points or 0.75% to 79,750.88. The Nifty 50 index declined 172.65 points or 0.71% to 24,260.55.

The broader market underperformed the headline indices. The S&P BSE Mid-Cap index slipped 0.73% and the S&P BSE Small-Cap index tumbled 0.94%.

The market breadth was negative. On the BSE, 1,074 shares rose and 2,727 shares fell. A total of 120 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 2.50% to 14.64. The Nifty 25 July 2024 futures were trading at 24,298.55, at a premium of 38 points as compared with the spot at 24,260.55.

The Nifty option chain for the 25 July 2024 expiry showed maximum Call OI of 32.7 lakh contracts at the 25,000 strike price. Maximum Put OI of 49.8 lakh contracts were seen at 24,000 strike price.

Buzzing Index:

The Nifty Mediaindex slipped 1.66% to 2,013.25. The index rose 0.70% in the past trading session.

Saregama India (down 3.43%), Nazara Technologies (down 2.96%), TV18 Broadcast (down 2.23%), Zee Entertainment Enterprises (down 2.13%) and Hathway Cable & Datacom (down 2%), Network 18 Media & Investments (down 1.64%), Sun TV Network (down 1.36%), Dish TV India (down 0.98%), PVR Inox (down 0.96%) declined.

Stocks in Spotlight:

Krishna Institute of Medical Sciences (KIMS) added 2.24% after the company executed a share purchase agreement (SPA) to acquire 100% equity stake of Chalasani Hospitals Private for total consideration of Rs 75 crore.

Adani Ports and Special Economic Zone (APSEZ) rose 0.22%. The company said that it has received a letter of intent (LoI) for development, operation and maintenance of Berth No. 13 at Deendayal Port.

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Chalasani Hospitals Private operates multi-specialty hospital under the brand name Queen's NRI Hospital (QNRI). It is a 200-bed hospital at a prime location in Vizag. It was established in 1995 with a built-up area of around 1,50,000 Sq ft. it is one of the leading hospitals in Vizag for cardiology and comprehensive oncology. Its turnover was Rs 62.60 crore in financial year 2023.

The company already has a multi-specialty hospital and gastro unit at Vizag and this addition will help it garner a larger share in the market. Besides the hospital is situated in a prime locality which makes it an attractive proposition.

The said transaction will be completed within one month.

Dr. B. Bhaskara Rao, CMD, KIMS Hospitals said, “This is our 2nd Hospital in Vishakapatnam (KIMS-ICON Hospitals was acquired in 2018). It underscores the tremendous opportunity we see in this city and we’ll continue to look for inorganic opportunities to build on our dominant position in Andhra Pradesh. With the addition of Queens’s NRI Hospital, we now have over 630 beds in Vishakapatnam to provide world class healthcare facilities.”

Headquartered in Hyderabad, Krishna Institute of Medical Sciences Limited (KIMS Hospitals) is one of the largest corporate healthcare groups in Telangana and Andhra Pradesh, providing multi-disciplinary integrated healthcare services, with a focus on tertiary and quaternary healthcare at affordable cost. It has a network of 12 hospitals and 3940 beds spread across Telangana, Andhra Pradesh and Maharashtra.

The company reported 29.8% fall in consolidated net profit to Rs 65.47 crore in Q4 FY24 from Rs 93.27 crore in Q4 FY23. Revenue from operations rose by 10% YoY to Rs 633.80 crore during the period under review.

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The aforementioned stock split proposal is subject to to regulatory/statutory approvals as may be required. The company would also seek the approval of its shareholders for the same at the ensuing 22nd annual general meeting (AGM).

Headquartered in Hyderabad, Krishna Institute of Medical Sciences Limited (KIMS Hospitals) is one of the largest corporate healthcare groups in Telangana and Andhra Pradesh, providing multi-disciplinary integrated healthcare services, with a focus on tertiary and quaternary healthcare at affordable cost. It has a network of 12 hospitals and 3940 beds spread across Telangana, Andhra Pradesh and Maharashtra.

The company reported 29.8% fall in consolidated net profit to Rs 65.47 crore in Q4 FY24 from Rs 93.27 crore in Q4 FY23. Revenue from operations rose by 10% YoY to Rs 633.80 crore during the period under review.

The scrip shed 0.25% to currently trade at Rs 2097.80 on the BSE.

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