Shares of Krishna Institute of Medical Sciences (KIMS) rose for the fourth straight day, up 6 per cent at Rs 1,325 on the BSE in intra-day trade on Thursday. The stock was trading at its highest level since its listing on July 5, 2021.

With a 40 per cent rally thus far in July, KIMS stock has zoomed 61 per cent from its issue price of Rs 825 as institutional investors lapped up the company’s shares post listing. KIMS is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana in terms of the number of patients treated and treatments offered. It operates nine multi-specialty hospitals under the ‘KIMS Hospitals’ brand, with an aggregate bed capacity of 3,064, including over 2,500 operational beds as of March 31, 2021.

The June quarter shareholding pattern filed by KIMS reveals that institutional investors had purchased an additional 1.24 million equity shares or a 1.55 per cent stake in the company via open market post listing. Following this, mutual funds’ holding increased to 10.75 per cent from 8.70 per cent, and that of foreign portfolio investors (FPIs) rose to 11.57 per cent from 10.95 per cent at the time of listing.

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