Apollo Hospitals up over 3% on expansion plan

Posted By: Religare
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Shares of Chennai-based hospital chain Apollo Hospitals Enterprise rose over 3 per cent in early trade on Bombay Stock Exchange (BSE) after company announced to spend Rs 2,200 crore on expanding its facilities and will add 2,700 beds in the next three years.

"We are going to spend part of this on expanding our facility in Mumbai and opening Apollo Clinics there. Of the planned outlay, we will spend about Rs 800-Rs 1,000 crore in the next 12 months," Sangita Reddy, Executive Director of the group said.

Cheering the news, shares of company gained as much 3.04 per cent to trade at Rs 954.00 a piece on the BSE.

In a similar fashion, shares of the company were trading at 951.35 a piece, up 2.88 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 19,034.15, up 206.99 points or 1.10 per cent at 10:00 hours.

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