Medanta share price rise 4% from intraday lows despite almost 2% decline in Healthcare Index: Do you own?

Stock Market today: Medanta (Global Health Ltd) share price rebounded 4% from intraday lows despite pressure on the Healthcare Index, which was down almost2% during intraday trades.

Medanta or Global Health share price gain 4% from intraday lows

The Medanta or Global Health share price opened at ₹1202.65 on the BSE on Friday, slightly lower than the previous days closing price of ₹1206.30. Medanta or Global Health share price thereafter dipped to intraday lows of ₹1192.05 with pressure on the Healthcare stocks amidst market crash.

The Nifty Healthcare Index dipped to intraday lows of 13,072.10 marking a decline of more than 2% over previous days close. The Index though recovered slightly nevertheless was trading 1.86% lower while Medanta or Global Health share price bounced to intraday highs of ₹1239.80, marking gains of 4% from intraday lows

Medanta or Global Health – News that led to rebound in share price

Medanta or Global Health share price gains was propelled by company’s intimation to the exchanges related to a Final Order by Hon’ble National Company Law Tribunal, New Delhi in favour of Medanta or Global Health Ltd.

Global Health in its release on the exchanges said that in respect of Scheme of Amalgamation between Medanta Holdings Private Limited (MHPL), a wholly-owned subsidiary of the Company and Global Health Limited (GHL/Company) and their respective Members and Creditors, under the provisions of Sections 230 to 232 of the Companies Act, 2013 , Global Health would like to inform that today the Scheme has been approved by the Hon’ble National Company Law Tribunal (NCLT) and that the final order is yet to be uploaded on the Hon’ble NCLT website.

The Scheme as per Global Health Ltd will come into effect once the certified copy of above order from the Hon’ble NCLT is filed with the respective Registrar of Companies by the Transferor Company and Transferee Company.

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