Shares of Krishna Institute of Medical Sciences Ltd. (KIMS) surged to a 52-week high of Rs 1,784 per share on Tuesday after around 40.7 lakh shares worth Rs 696 crore changed hands in a block deal.

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According to the market data, 40.7 lakh shares of the company accounting for around 5 percent of equity were traded in a block deal at a price of Rs 1,710 per share.

However, buyers and sellers of the shares were not known immediately.

The deal resulted in the trading volumes on the stock going up by 147 times compared to its 20-day average on the bourses.

As of March 31, promoters led by Bhaskara Rao Bollineni held around 38.84 percent stake in the company. Public shareholders, FIIs, mutual funds and others hold the remaining 61.16 percent stake.

For the March quarter, KIMS reported consolidated revenue growth of 54.7 percent year-on-year to Rs 575.9 crore, while it was up 2.4 percent when compared to the December quarter.

Operating profit or EBITDA of the company grew by 38.8 percent, while net profit saw growth of nearly 20 percent compared to the same period last year.

Shares of KIMS are currently trading 2 percent higher at Rs 1,733. The stock is off the record high levels it hit in early morning trade.

First Published:Jun 20, 2023 12:17 PM IST