Rs 118/Share Dividend: Multibagger Healthcare Stock To Buy Amid Optimistic Outlook, TP Rs 550

Mid cap company operating in healthcare sector, Aster DM Healthcare today declared a whopping special dividend of Rs 118/share. The company fixed April 23, 2024 as the record date for the special dividend. Aster DM Healthcare was also scheduled to declare an interim dividend for financial year 2023-24 too but decided not to declare.

The Board may consider declaration of final dividend for the financial year 2023-24 at the Board meeting considering the approval of audited financial statements for FY 2023-24. Last trading price of Aster DM Healthcare share on BSE is Rs 487.95 apiece with intraday gain of 2.66%. Two analysts have recommended buy call for Aster DM Healthcare shares with maximum target price of Rs 550 apiece. Check more details about dividend and the company below:

Aster DM Healthcare Declares Special Dividend: As per the regulatory filing of the company dated April 12, "the Board of Directors approved declaration of a Special Dividend of INR 118/- per share on account of the receipt of proceeds from the sale of the GCC business and redemption of Redeemable Preference shares issued to the Company by Affinity Holdings Pvt Ltd , a wholly owned material subsidiary of the Company, on 49,95,13,060 equity shares of INR 10/- each payable to those shareholders whose names stand on the Register of Members of the Company as on the Record Date. The special dividend will be paid within 30 (thirty) days from the date of the declaration."

Aster DM Healthcare Share Performance: The 52-week high price of Aster DM Healthcare shares on BSE is Rs 500 apiece ( as on 09/04/2024) and 52-week low price is Rs 238.90 apiece (as on 08/05/2023), respectively. The company has a market capitalisation of Rs 24,373.74 crore. Aster DM Healthcare shares offered return of 19 in last 1-week, gained 44% in last 6-months, and zoomed 98% in last 1-year. In last 2-years, Aster DM Healthcare stock surged 155% and 241% in last 3-years. In last 5-years, the scrip rallied 219%.

Analysts Recommend Buy Call: According to Ruchit Jain of 5paisa.com, Aster DM Healthcare shares highlight positive trend and favorable structure. The analyst highlighted potential levels of Rs 540-550 in the near term, reflecting a promising outlook for traders.

Meanwhile, Prabhudas Lilladher has buy on Aster DM Healthcare Share and said, "We maintain 'BUY' rating with revised TP of Rs515 (earlier Rs. 500) valuing India hospital segment at 22x EV/EBITDA on FY26E EBITDA. Timely closure of GCC divestment and utilization of proceeds will be key monitorable in near term."

Aster DM Healthcare About: From a single medical centre to a performance-driven healthcare enterprise spread across more than 366 medical establishments, including 27 hospitals, 115 clinics and 223 pharmacies in 7 countries and growing, Aster DM Healthcare has transitioned into being the leading healthcare authority across the Middle East and India. Currently one of the largest and fastest growing conglomerates in the MENA region, Aster DM Healthcare covers the full spectrum of healthcare services, according to its LinkedIn page.

Disclaimer: The stock has been picked from the brokerage report of Prabhudas Lilladher and 5Paisa.com. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.