Medplus Health Services share price rises 3% as Kotak Small Cap and other funds buy stakes

Stock Market Today: Medplus Health Services share price gained more than 3% in morning trades on Tuesday after the bulk deal data on the NSE showed that Kotak Mutual Fund, Franklin Templeton Mutual Fund and Invesco India picked up stakes in the company.

Medplus Health Services share price opened at ₹729 on the NSE on Tuesday, more than 1% higher than the previous close of ₹719.05. The share price thereafter gained to intraday highs of ₹741.80, up over 3%.

NSE Bulk deal data showed that Kotak Small Cap Fund bought 24,95,536 shares on Monday, November 18, equivalent to over 2% stake in Medplus Health Services, at ₹700 a share.

Franklin Templeton MF Flexi Cap Fund and Franklin Templeton MF Smaller Companies Fund bought 8,29,917 shares and 7,77,950 shares, respectively in Medplus Health Services at an average price of ₹700 a share.

Invesco India Large & Mid Cap Fund bought 11,31,734 shares at an average price of ₹700. Invesco Trustee Pvt Ltd A/C Invesco India Contra Fund and Invesco India Mid Cap Fund also bought 9,55,578 shares and 9,84,117 shares, respectively.

The stakes bought by Kotak MF, Franklin Templeton MF and Invesco India Fund were offloaded by PI Opportunities Fund I and SBI Mutual Fund.

As per the release by the company and bulk deal data, PI Opportunities Fund I sold 68,93,583 shares representing a 5.77% stake in Medplus Health Services at an average price of ₹700 a share.

SBI Mutual Fund also sold 10,00,000 shares of Medplus Health Services at an average price of ₹700 a share.

Medplus Health Services is an omni-channel retail pharmacy chain operating in more than 600 cities across various states in India.

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