Apollo Hospitals' subsidiary buys more stake in Keimed

Apollo Hospitals' shares are drawing attention after its subsidiary, Apollo Healthco (AHL), announced plans to buy an extra 11.2% stake in Keimed Pvt Ltd for Rs 625.43 crore. This purchase will be made from Shobana Kamineni, a related party, and will occur in two parts. AHL will also invest Rs 99.99 crore in Keimed under a framework agreement. In its latest financial report, Apollo Hospitals revealed a 52% increase in net profit for the December 2024 quarter. The profit reached Rs 372 crore, up from Rs 245 crore the previous year due to rising sales. Analysts are optimistic about Apollo Hospitals, with an average target price of Rs 7,814. This suggests an 18% potential gain from current prices. Twenty-nine analysts recommend the stock as a 'Buy.' Currently, the stock has a relative strength index of 63.3, which indicates moderate trading levels. Apollo Hospitals shares closed at Rs 6,621.5 on Friday, gaining 2.3%. Although the stock is down 10% this year, it has increased by 55% over the last two years. The company's market capitalization stands at Rs 95,207 crore.