Apollo Hospital in good health

Apollo Hospitals is a big gainer on the BSE today. The stock opened at Rs.798.85 and went on to hit an intra day high at Rs.846.65. Though it has come off from this high, it remains firmly in the green, up 5% at Rs.835. Volumes are huge at over 16,000 shares compared to two week average of 5800 shares.

The stock is up on a newspaper report which stated that the company is in advanced stages of negotiations to take over the 80-bed Lifeline Multi-Specialty hospital in the heart of Chennai's information technology corridor in Perungud.  The report has stated that Lifeline Hospitals chairman has confirmed that his team is negotiating with Apollo Hospital wherein Apollo will enter into a long term lease agreement to manage Lifeline.