46.97% In 3 Months: Small Cap Stock Hit New 52-Week High After Signing MoU To Establish Franchise

Shalby Ltd. today, Jun 27, 2023, announced the signing of an MoU with Divine Super Specialty Hospital Pvt. Ltd., a leading hospital in Ranchi having capacity of 60 beds, to establish a Franchise‐Owned Shalby‐Managed (FOSM) hospital in the region. Post the announcement, the shares of Shalby hit the new 52-week high in early trade i.e. Rs 180.50 apiece.

Shalby is a small cap Hospital sector company engaged in the healthcare delivery space in India. It operates a chain of multi-speciality hospitals across India. It has a market valuation of Rs 1,857.23 Crore.

Signing of an Agreement with Hospital as Ranchi

Shalby Ltd. in a regulatory filing said, "we are pleased to announce that our Company, has signed an agreement with Divine Super Specialty Hospital Pvt. Ltd., a leading hospital in Ranchi having capacity of 60 beds, to establish a Franchise‐Owned Shalby‐Managed (FOSM) hospital in the region. This strategic collaboration marks an important milestone in our Franchise business plans and signifies our commitment to delivering quality healthcare services to the people of in and around Ranchi."

It added, "As per the terms of the Agreement, Shalby Limited will provide their expertise, operational guidance, specialist doctor services, supply chain and Learning & Development Support to facilitate the establishment and smooth functioning of the hospital. Divine Super Specialty Hospital Pvt. Ltd (Franchisee) will be responsible for the day‐to‐day operations of the hospital."

"Ranchi, the capital city of Jharkhand, has witnessed rapid growth in recent years, creating a demand for high‐quality healthcare services. Our partnership with Divine Super Specialty Hospital Pvt. Ltd., will leverage our extensive experience and excellent reputation in the healthcare industry to meet this demand effectively," the companynstated in the regulatory filing.

Further, the company stated, "This collaboration aligns with our long‐term vision of expanding our presence and making quality healthcare accessible to a wider population. We are confident that Shalby Divine Super Specialty Hospital, Ranchi will contribute significantly to the healthcare ecosystem of the region, offering comprehensive and advanced medical facilities."

Stock Movement

The stock jumped 2.47%, ended at Rs 171.95 apiece. The stock of the Shalby hit a new 52 week high today, Jun 28, 2023, at Rs 180.50 apiece. It traded the 52 week low at Rs 99.10 apiece on Jul 04, 2022.

It jumped 1% in 1 week, and 20.37% in 2 weeks. It gave 26.02% positive return in 1 month, 46.97% in 3 months, and 19.45% in 6 months, respectively. The stock gave 66.06% positive return in 1 year, 140.83% in 3 years and 2.05% in 5 years, respectively.

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