Kotak, others buy stakes; Medplus shares rise

Shares of Medplus Health Services rose by over 3% in early trading on Tuesday, driven by significant investments from major mutual funds. Industry analysts highlighted the strategic interest in the company, making it a noteworthy day for investors looking to invest in stocks.

Early trading gains for Medplus Health Services

The Medplus Health Services share price opened at ₹729 on the NSE, up by more than 1% from the previous close of ₹719.05. During the session, it climbed to an intraday high of ₹741.80, representing gains exceeding 3%.

Major mutual funds buy Medplus shares

Bulk deal data from the NSE revealed significant activity:

• Kotak Small Cap Fund acquired 24,95,536 shares on Monday, 18 November 2024, translating to over 2% ownership at ₹700 per share.
• Franklin Templeton Mutual Fund invested through two schemes:

  • Flexi Cap Fund bought 8,29,917 shares.
  • Smaller Companies Fund acquired 7,77,950 shares.

• Invesco India Funds also made notable purchases:

  • Large & Mid Cap Fund added 11,31,734 shares.
  • The Contra Fund and Mid Cap Fund bought 9,55,578 and 9,84,117 shares, respectively.

These investments demonstrate growing confidence in Medplus Health Services’ growth potential.

Existing investors

On the selling side, significant stakes were offloaded:

• PI Opportunities Fund I sold 68,93,583 shares, representing a 5.77% stake, at an average price of ₹700 per share.
• SBI Mutual Fund also exited 10,00,000 shares at the same average price.

This transfer of ownership highlights a reshuffling of institutional stakes, with new investors entering the fold.

Medplus Health Services: A growing retail pharmacy chain

Medplus Health Services is a leading omni-channel retail pharmacy chain operating in over 600 cities across India. Its robust business model and extensive reach make it an attractive opportunity for those looking to invest in stocks.

Key takeaways

1. Medplus shares surged over 3% in Tuesday’s intraday trading.
2. Significant purchases were made by major mutual funds like Kotak, Franklin Templeton, and Invesco India.
3. Key sellers included PI Opportunities Fund I and SBI Mutual Fund.
4. Medplus’ vast network across 600 cities strengthens its position in the pharmacy sector.

This investment activity reinforces Medplus Health Services' growing appeal to investors who are keen to invest in stocks with promising growth potential.