Krsnaa Diagnostics Climbs 4% On Buying Stake In Apulki Healthcare: Krsnaa Diagnostics Share Price

3 min read Last Updated : Sep 26 2024 | 1:40 PM IST

Shares of healthcare service provider Krsnaa Diagnostics jumped 4.39 per cent to hit the day’s high of Rs 875.65 during intra-day deals on the BSE. The northward movement in the company’s stock follows the announcement of a strategic investment in Apulki Healthcare (Apulki), India’s first Public Private Partnership (PPP) dedicated to cancer, and cardiac care hospitals. Earlier, on September 25, 2024, the company informed the exchanges that its Board of Directors had approved the acquisition of 23.53 per cent of the total paid-up capital of Apulki Healthcare.

Krsnaa Diagnostics, in a note, said, “Under this collaboration, Krsnaa will deliver a comprehensive suite of integrated diagnostic services at Apulki’s facilities, enhancing access to advanced and super-specialised diagnostics. Under this collaboration, Krsnaa Diagnostics will become the exclusive diagnostics partner for Apulki’s state-of-the-art cancer and cardiac hospitals for the next 30+ years.”

Yash Mutha, Joint Managing Director of Krsnaa Diagnostics, stated, “By acquiring a stake in Apulki, we are positioning ourselves at the forefront of the rapidly expanding cancer and cardiac care segment. The investment is subject to the fulfilment of certain conditions precedent, and the exact amount will be disclosed once we sign the definitive documents. However, it is important to note that this investment will not put any strain on our cash flows, as it will be funded entirely through internal accruals over the next 2-3 months. This also strengthens Krsnaa’s portfolio, opening avenues for sustainable long-term growth and shareholder value.”

Krsnaa Diagnostics is one of the fastest-growing differentiated diagnostic services providers, both in Radiology and Pathology. The company started its journey in 2011 with 2 radiology centres and today it is in 18 states and union territories with over 2,900 centres across the country.

Krsnaa Diagnostics commands a market capitalisation of Rs 2,744.47 crore. The healthcare service provider company is a constituent of the BSE SmallCap index.

Shares of Krsnaa Diagnostics have yielded a return of 14 per cent in the last one month, 35 per cent in the last six months, and 19.19 per cent year-to-date.

The SmallCap stock has a 52-week range of Rs 887.95 – 527.55 on the BSE.

At around 01:02 pm on Thursday, the company’s shares were quoted trading at Rs 841, up 0.27 per cent from its previous close of Rs 838.70 on the BSE.

Krsnaa Diagnostics shares are currently trading around 5 per cent lower than their 52-week high of Rs 887.95, scaled earlier this week on Monday, September 23, 2024.

First Published: Sep 26 2024 | 1:34 PM IST