Wednesday, March 18, 2015
Shares of Piramal Enterprises surged as much as 3.5 per cent to hit intraday high of Rs 917 after the company said that it is in talks with Apollo to buy its health information network company Health Super Hiway.
The company in a statement to the Bombay Stock Exchange said, "as part of its growth strategy, the Company continually looks at strategic initiatives including viable investment opportunities. All of these are channelled towards achieving operational excellence and growth."
"The Company's proposed investment in Health Super HiWay is subject to several pre-conditions, only upon fulfilment of which, the investment would be made. Further, such investment would be made in a phased manner. We shall intimate the stock exchanges immediately upon the first phase of investment getting concluded, at which time, we shall also communicate the actual consideration for the same," the statement added.
Health Super HiWay is a health information network that enables healthcare organizations to connect with each other, facilitating better collaboration and seamless information sharing to deliver quality care.
The shares of Piramal Enterprises ended 1.4 per cent lower at Rs 873.
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