News for Metropolis Healthcare Limited (METROPOLIS.BO)

The company reported a robust set of numbers for the December quarter of FY25, with its profit nearly doubling year-on-year to ₹30.8 crore and its Ebitda margin expanding sharply from 4.9% to 17.5%. Its revenues grew 44% to ₹440.3 crore.

Starting February 28, 2025, 16 stocks including United Breweries and PVR Inox will exit the derivatives segment, trading only in the cash market. February 27 is the last day to trade their F&O contracts. The exclusion follows the December 20 announcement by NSE.

Amid the ongoing selling on Dalal Street, the benchmark equity index has plunged nearly 10% since October 2024.

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This announcement comes after a previous decision to add six companies to the F&O segment, namely Castrol India, Gland Pharma, NBCC, Phoenix Mills, Solar Industries, and Torrent Power.

The NSE of India will include six new stocks in the Futures and Options segment from January 31, 2025. The stocks are Castrol India, Gland Pharma, NBCC, Phoenix, Solar Industries India, and Torrent Power. Details about market lot and scheme of strikes will be announced on January 30, 2025.

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The Rs 246.8 crore deal includes 55% financing in cash and 45% through an equity swap.

Ameera Shah, Promoter and Executive Chairperson of Metropolis Healthcare, discussed the growth potential of the Indian oncology market, and the need for advanced cancer testing.

Stocks including Tata Motors, Syngene, JSW Steel, Bharat Electronics, Vodafone Idea, Bharat Forge, NHPC, Torrent Power and more will be in the spotlight on Tuesday, December 10.

This acquisition will raise Metropolis’ capabilities in advanced cancer testing, while strengthening its presence in north and east India.

Metropolis Healthcare Ltd. will acquire Core Diagnostics for a total sum of Rs 246.8 crore, according to an exchange filing on Monday. The laboratory chain operator’s board had on Monday approved the proposal to acquire 100% stake in the Delhi-NCR-headquartered Core Diagnostics via a combination of cash and stock. While 55% of the transaction will be executed via cash, 45% will be undertaken through an equity swap. However, the equity issuance is subject to approval by the shareholders.

Metropolis Healthcare is set to acquire Core Diagnostics for Rs 247 crore. This acquisition will boost Metropolis's cancer testing capabilities. The deal expands Metropolis's presence in northern and eastern India. Core Diagnostics operates in 200 Indian cities. This merger aims to improve cancer care access across India. The combined entity seeks to become a leader in advanced cancer testing.

Stocks in focus include Titan, Induslnd Bank, Bandhan Bank, IDBI Bank among others. Overseas investors stayed net sellers of Indian equities on day for fifth straight day on Friday. Foreign portfolio investors offloaded stocks worth Rs 9,896.95 crore, domestic institutional investors stayed net buyers for the ninth session and bought equities worth Rs 8,905.08 crore, the NSE data showed. Indian rupee closed flat at 83.97 against the US dollar.

Indian benchmark equity indices, the Sensex and Nifty, experienced their fifth consecutive decline on Friday, recording their worst weekly performance in over two years. Escalating tensions in the Middle East and rising foreign outflows contributed to investor unease. The Nifty 50 index fell 0.93% to 25,014, while the S&P BSE Sensex decreased by 0.98% to 81,688.

Indian indices fell sharply on Thursday, dragged by Middle East tensions. Nifty closed at 25,250, down 2.12%. Analyst Rupak De sees a bearish trend reversal, with support at 25,070. Tejas Shah sees potential for a minor pullback rally, with support at 25,200-25,050 and resistance at 25,475-25,700.

Indian indices ended flat amid profit booking in energy stocks. Analysts anticipate volatility as geopolitical tensions rise and support levels for Nifty are observed around 25,650-700.

Aditya Khemka of InCred Asset Management cautions that many hospital stocks are currently priced expensively

The Nifty index ended flat after a strong initial hour of trading, facing resistance around 23,400. Despite this, the short-term trend remains positive as the index stayed above 23,300. In the near term, the index is likely to continue consolidating within the 23,300-23,500 range. A decisive breakout above 23,500 could potentially trigger a rally towards 23,800.