- Park Medi World secures 550-bed Prayagraj hospital PPP mandate.
- Rs 200 crore investment for a multi-speciality hospital project.
- Stock rose; 92 pe cent YTD return on healthcare shares.
Park Medi World Limited shares remained in focus on August 26 after the north India-based hospital chain secured a mandate from Prayagraj Municipal Corporation under the public-private partnership (PPP) model to build a 550-bed multi-speciality hospital.
The healthcare stock started the session slightly higher at Rs 287 as compared to the last closing of Rs 284.05. However, after the announcement was made through an exchange filing, the Park Medi shares picked momentum to hit a high at Rs 291.65, reflecting a rise of 2.67 per cent from the last closing.
Share Price History: 92% Jump YTD
According to NSE's data, the healthcare stock has given an impressive return this year, rising 92 per cent year to date (YTD). In the last six months, it rose over 50 per cent. In the last five trading sessions, the healthcare stock jumped over 7 per cent. The Park Medi World stock made its debut in December last year.
Meanwhile, it's 52 week high and low values stood at Rs 305 and Rs 138.10, respectively, on the NSE.
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Period | Return (%) |
|---|---|
Year to Date (YTD) | 92% |
Last 6 Months | Over 50% |
Last 5 Trading Sessions | Over 7% |
Secures 550 Beds Hospital Order Under PPP Model
In an exchange filing, the Company announced that it has been awarded a mandate under the Public–Private Partnership (PPP) model for the development and operation of a 550-bed multi-super-speciality hospital in Prayagraj, Uttar Pradesh. The mandate was awarded by the Prayagraj Municipal Corporation.
“Under the concession, Park Group will construct the hospital facility over a period of two years from the appointed date and operate the facility under a long-term lease for a period of 45 years, and the concession entails an investment of approximately Rs 200 crore,” the company said in an exchange filing.
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The project will also carry financial support under the concession arrangement. The Uttar Pradesh government will pay Rs 76.52 crore to be reimbursed by Prayagraj Municipal Corporation towards hospital construction, covering around 38 per cent of the capital outlay, the company noted.
Park Medi World New Order And Share Price: FAQs
- What hospital project has Park Medi World Limited recently secured? According to an exchange filing, the company secured a mandate from the Prayagraj Municipal Corporation to develop and operate a 550-bed multi-super-speciality hospital under a PPP model.
- What are the key terms of the hospital project concession? Under the agreement, Park Group will construct the hospital over two years. The total investment for the project is estimated at Rs 200 crore. However, Rs 76.52 crore will be reimbursed by the Prayagraj Municipal Corporation to cover about 38 per cent of the capital outlay.
- Park Medi World stock recent performance The stock rose over 92 per cent year-to-date, over 50 per cent in the last six months, and over 7 per cent in the last five trading sessions. Its 52-week high and low are recorded at Rs 305 and Rs 138.10, respectively.
Disclaimer: This story is for informational purposes only. It should not be considered investment advice.