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Business Standard
33 minutes ago
- Business Standard
Manipal buys Sahyadri from OTPP; hospital count rises to 49 across India
Bengaluru-headquartered Manipal Hospitals, India's second-largest hospital chain, has acquired Sahyadri Hospitals from Ontario Teachers' Pension Plan (Ontario Teachers'), a global investor with net assets of $194 billion. The acquisition will take Manipal's total bed count to about 12,000. While the deal size was not disclosed, sources close to the development pegged it at around Rs 5,800 crore. It is estimated that OTPP made 2.5-times returns on its investment in Sahyadri. It had acquired Sahyadri from Everstone Capital in August 2022 at a valuation of Rs 2,500 crore. Rahul Mukim, Managing Director, Private Capital, Ontario Teachers', said: 'Our partnership with Sahyadri over the past three years has been focused on unlocking long-term value — investing behind key specialties and medical technology, expanding reach across the state and building institutional processes to strengthen the platform. I would like to thank Abrarali Dalal, the management team and the clinicians and doctors at Sahyadri for their partnership and wish them every success in their next chapter with Manipal.' The acquisition of Pune-based Sahyadri Hospitals will add 11 hospitals to Manipal's network across Pune, Nashik, Ahilya Nagar and Karad, increasing Manipal's total number of hospitals to 49. The deal will further strengthen Manipal's position in western India. IPO-bound Manipal Hospitals is gradually expanding its network. The company has previously acquired Medica Synergy in Kolkata, Columbia Asia's Indian hospitals, AMRI Hospitals in Kolkata and Vikram Hospital in Bengaluru to increase its bed count. In June, KKR invested about $600 million in debt to support Manipal Group's strategic expansion and growth plans. Manipal Education and Medical Group (MEMG) Chairman Ranjan Pai said the acquisition would strengthen Manipal's presence in western India. The hospital chain outbid peers such as Fortis Healthcare, Aster DM Healthcare and other private equity firms to win the race for Sahyadri Hospitals. Dilip Jose, Managing Director and Chief Executive Officer, Manipal Health Enterprises, said: 'At Manipal Hospitals, we are focussed on maintaining a patient-centric ecosystem rooted in clinical excellence and transparency, serving a multitude of patients from all over the country, and beyond. We are delighted to welcome Sahyadri Hospitals into the Manipal family, with its top-rated multi-specialty facilities and world-class doctors. With the strong partnership of our valued stakeholders like Temasek and our other investors, we are excited to grow our operations.' Manipal Hospitals was supported by a team of advisers including Allegro Capital Advisors and Barclays (financial), Cyril Amarchand Mangaldas (legal), Alvarez & Marsal (accounting and commercial), and Deloitte (tax). Manipal Hospitals serves over 7 million patients annually. The company's integrated network has a pan-India footprint of 38 hospitals across 19 cities with more than 10,500 beds. Sahyadri Hospitals, a healthcare network in Maharashtra, comprises 11 hospitals with a total capacity of over 1,400 beds. Abrarali Dalal, Managing Director and Chief Executive Officer of Sahyadri Hospitals, said: 'When Ontario Teachers' invested, our intention was to create a formidable regional player with the infrastructure, medical equipment and clinical excellence to enable high-quality medical care in cities across the region. Backed by strong shareholder support, we've been able to invest over Rs 900 crore since 2022, leveraging our combined expertise to drive the transformation of Sahyadri. We've enjoyed a great partnership with the Ontario Teachers' team and are optimistic about the platform's continued positive impact on healthcare delivery.' Deepak Dara, Senior Managing Director and Head of India, Ontario Teachers', said healthcare is a key investment theme for them globally and in India.
Business Standard
34 minutes ago
- Business Standard
RailTel Corp bags Rs 17-cr order from GAD, Chhattisgarh
RailTel Corporation of India said that it has secured a work order worth Rs 17.47 crore from General Administration Department (GAD), Chhattisgarh to revamped integrated communication infrastructure. The order includes network connectivity, operation & maintenance (O&M), hardware procurement & commissioning implementation of revamped integrated communication WLAN LAN EPBAX Infrastructure. The said order is expected to be executed by 14 January 2031. RailTel Corporation of India, a 'Navratna' central public sector enterprise, is one of the largest neutral telecom infrastructure providers in the country, owning a pan-India optic fiber network covering several towns & cities and rural areas of the country. The company's standalone net profit jumped 46.33% to Rs 113.45 crore on a 57.11% rise in net sales to Rs 1,308.28 crore in Q4 FY25 over Q4 FY24. The counter shed .33% to end at Rs 410.25 on the BSE.
Economic Times
42 minutes ago
- Economic Times
Vodafone Idea slides 57% in a year; analysts warn of further downside below Rs 6.30
Vodafone Idea shares, down over 57% in the past year, continue to reflect a bearish trend as technical analysts highlight weak momentum and lack of investor interest. The stock was trading around Rs 7.26 on Wednesday, hovering near the lower end of its range, with no signs of a sustained recovery. ADVERTISEMENT Hardik Matalia, Derivatives Analyst at Choice Broking, said the stock remains entrenched in a long-term downtrend and has failed to attract meaningful investor participation. 'Despite minor recoveries, Vodafone Idea has failed to show any sustained strength. The broader bias remains negative,' said Hardik Matalia, Derivatives Analyst at Choice Broking. 'A breakdown below Rs 6.30 could trigger further downside, while a sustainable move above Rs 10.50 is required to reverse sentiment.' He added that the Relative Strength Index (RSI) is at 55.47 but has shown signs of weakness due to a negative crossover. The stock also trades below its long-term exponential moving averages, and any breach below short-term averages could reinforce bearish traders, he noted, should watch for a breakdown below Rs 7 before considering fresh shorting. For any buying opportunity, a strong reversal supported by volume would be Vithlani, Technical Research Analyst at Bonanza Portfolio, echoed the bearish view. ADVERTISEMENT 'Vodafone Idea continues to trade within a falling channel pattern. It recently faced rejection near Rs 7.80, which reinforces that level as strong resistance,' he said. 'Unless the stock breaks out of this range decisively, the outlook will remain weak.'Immediate support lies at Rs 7.13, aligned with the 50-day EMA. A close below this level could open further downside toward Rs 6.80, he added. ADVERTISEMENT The technical weakness comes amid continued uncertainty around Vodafone Idea's massive adjusted gross revenue (AGR) dues. While the telco has sought further payment relief from the government, recent reports suggest that the Department of Telecommunications (DoT) is unlikely to grant any extension on the Rs 84,000 crore dues, payments for which are set to begin from adds to the financial strain despite the government's earlier move to convert Rs 36,950 crore of dues into equity, giving it a 49% stake in the company. ADVERTISEMENT The company's total subscriber base fell below the 200-million mark in March 2025, underscoring the challenge it faces in retaining users amid fierce competition from Reliance Jio and Bharti Airtel. Vodafone Idea reported a net loss of Rs 7,166 crore in Q4FY25, while revenue grew 3.8% year-on-year to Rs 11,014 crore. Sequentially, losses widened further. ADVERTISEMENT Also Read: Is the chemical sector entering a new supercycle? Top stocks already up 35–135% in 2025 (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
